SET-listed Thai Solar Energy Plc (TSE) is negotiating to acquire two new renewable energy assets domestically in a move to expand its power generation capacity.
The company is currently in the final stage of the talks and is conducting due diligence, said Kedsara Lertpanasan, TSE's assistant vice-president for accounting.
"We expect the two acquisition deals will be finalised within this year," she said without naming the assets.
Ms Kedsara said an opportunity to start a new development project in Thailand is rare while buying facilities overseas at the moment is difficult due to travel restrictions amid the pandemic, so purchasing domestic assets is the best solution for the company to continue its growth.
Speaking on TSE's business direction with investors via an online broadcast yesterday, Ms Kedsara said the firm has set a target to increase its power generation capacity by 100-200 megawatts over the next 3-5 years.
The plan to buy two assets will add 50MW to TSE's electricity generation portfolio, said Chadatirud Lertaveesin, TSE manager for investor relations.
Once worldwide travel restrictions are relaxed, the company will acquire more assets in Taiwan and Vietnam, with total capacity of 50-100MW, she said.
At present, the company operates 41 renewable energy projects, including on-ground and floating solar farms, rooftop solar panel business as well as biomass-fired power generation facilities, all with total capacity of 300MW.
Up to 39 of them, with capacity of 159MW, had already started operations.
Another two, now under construction, are 8MW floating solar farm in Prachin Buri's Kabin Buri district under a private power purchase agreement with Hitachi Consumer Products Thailand Co and Onikoube on-ground solar farm in Japan, with capacity of 147MW.