Thailand: SPCG sees hot earner in solar rooftops

Thailand: SPCG sees hot earner in solar rooftops

SET-listed SPCG Plc, Thailand's second-largest solar farm developer, expects
revenue growth of 14% to 6.3 billion baht this year, driven by rising income
from the solar rooftop business, says chairman Wandee Khunchornyakong.

The solar rooftop business will be a key revenue generator for SPCG in
Thailand and overseas, Ms Wandee said.

"The company expects revenue from solar rooftops to reach the target of 2
billion baht, up from 938 million last year," she said.

For the solar farm business, SPCG predicts revenue of 4.3 billion baht, as
targeted.

Ms Wandee said the company continues to expand at home and abroad,
particularly in Japan, where demand for renewable power remains strong.

This year, the company plans to expand its combined power-generating
capacity from its existing 36 solar farms in Thailand to 500 megawatts, from
260MW at present. All 36 solar farms, located in the provinces of Nakhon
Ratchasima, Khon Kaen, Nakhon Phanom, Loei, Nong Khai and Lop Buri, began
commercial operation in 2014.

SPCG also runs solar farms in Japan with total power-generating capacity of
30MW, located near the Daisen-Oki National Park. They are due to start
commercial operation in 2018.

Ms Wandee said the company is still in talks with new partners to form joint
ventures focused on Japan and Asean.

"Competition in the solar power industry in Thailand has intensified since
the government launched its policies to support and encourage many companies
to start investing in this sector. This has forced our company to switch its
focus on overseas expansion in order to increase revenue," Ms Wandee said.

SPCG also operates in the Philippines, where it has just received investment
conditions from the country's state utilities to start on the second phase
of its solar farm project.

The company has allocated a five-year (2015-19) investment budget of 5
billion baht for expansion, which will mostly be overseas.

SPCG posted a net profit of 2.3 billion baht in 2016, up from 2.2 billion in
the previous year.

SPCG shares closed yesterday on the SET at 22.40 baht, unchanged, in trade
worth 34.5 million baht.

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Link to Original Article:
http://www.bangkokpost.com/business/news/1212009/spcg-sees-hot-earner-in-sol
ar-rooftops

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com