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Romklao Wind Farm in Thailand. (Photo: Patsagorn Y. / Unsplash)
Thai energy listed company Sermsang Power (SSP) announced an expansion in renewable energy development, with an anticipated investment exceeding 10 billion Thai Baht (about 282 million USD).
In addition to increasing its stake in the Romklao Wind Farm and developing municipal-waste-to-energy power plants in Thailand, SSP is targeting the markets of Taiwan and the Philippines, evaluating the feasibility of establishing wind farms, with results expected to be announced in June this year.
The SSP board of directors has recently approved investments in the construction of two municipal-waste-to-energy power plants in Thailand. These plants will recycle solid waste from urban areas and generate thermal and electrical energy through incineration.
One plant, located in Nakhon Ratchasima Province, will have a capacity of 9.9 MW, with SSP investing 80% of the planned value, approximately 2.28 billion Thai Baht (about 63.9 million USD). The other plant, located in Surat Thani Province, will also have a capacity of 9.9 MW, with SSP's investment exceeding 51%, approximately 2.28 billion Thai Baht (about 63.9 million USD).
SSP also intends to invest in wind power plants in Pingtung County, Taiwan, and Bago City, the Philippines. The board has approved feasibility studies for these projects, with expected installation capacities of 38 MW in Pingtung County and 150 MW in Bago City, with assessments scheduled to be completed by June 2023.
Regarding the Romklao Wind Farm, in which SSP currently holds a 25% stake through collaboration with Winchai Company, SSP plans to inject an additional 4 billion Thai Baht (about 112 million USD) to acquire the remaining 75% stake after obtaining approval from Winchai's extraordinary shareholders meeting.
Furthermore, SSP is investing 2.7 billion Thai Baht (about 76 million USD) in the LEO2 photovoltaic plant in Shizuoka Prefecture, Japan, scheduled for completion this year. With a capacity of 22 MW, LEO2 will sell electricity to Tokyo Electric Power under a 20-year power purchase agreement (PPA).
SSP will raise funds through financial institutions that prioritize clean energy. Its CEO Varut Tummavaranukub stated, "SSP's investments in waste-to-energy plants and exploration of wind power plants in Taiwan and the Philippines can be seen as significant opportunities to expand alternative energy investments and the company's development strategy. These projects are expected to yield high returns, supporting the sustainable growth of the company."
