TPIPP anticipates 11% revenue hike

TPIPP anticipates 11% revenue hike

TPI Polene Power's waste-to-energy power plant in Saraburi province.
TPI Polene Power's waste-to-energy power plant in Saraburi province.

SET-listed TPI Polene Power (TPIPP), a waste-to-energy (WTE) developer and operator, expects its 2021 revenue to rise by 11% to 11.8 billion baht from 10.6 billion in 2020 because of a higher utilisation rate at its eight power plants.

The utilisation rate increased to 85% from 65% last year following a plan to improve boilers and the power generation process to boost sales, said vice-president Worawit Lerdbussarakam.

The company expects electricity sales volume to rise by 14% to 2.49 billion kilowatt-hours (kWh), up from 2.174 billion kWh last year.

TPIPP's eight power generation facilities, with total capacity of 440 megawatts, run on refuse-derived fuel, coal and "waste heat" from the cement production process at its parent firm and cement maker TPI Polene Plc.

Heat is reused to boil water, producing steam which can run a turbine to generate electricity.

Mr Worawit said TPIPP will allocate capital spending worth 4.07 billion baht over the next couple of years to three new WTE projects awarded to the company at an auction in the first quarter this year.

One of them is a 500-million-baht WTE project in Thap Kwang municipality in Saraburi. Its 70MW power plant is scheduled to operate next year.

Next is a 1.74-billion-baht WTE plant, with capacity of 12MW, in the Songkhla Provincial Administrative Organization. The plant is set to open in 2023.

Also set to open in 2023 is a 1.83-billion-baht WTE plant, with capacity of 12MW, in Muang Nakhon Ratchasima municipality.

Once the new power plants are in operation, total capacity will rise to 472MW in 2023 and 580MW in 2025.

Pakkapol Leopairut, TPIPP executive vice-president for accounting and finance, said the company intends to participate in new auctions of WTE projects for seven local administrative bodies in the next two years.

The projects, each with a capacity of 12-24MW, are set to operate between 2024 and 2025.

They are in Nong Bua Lam Phu's Naklang municipality, Ubon Ratchathani, Samut Prakan, Chon Buri, Chanthaburi, Ayutthaya's Bang Sai district and Pathum Thani.

Mr Pakkapol believes the auctions will not face a delay again as happened in the past because elections of all local administrative bodies were completed and endorsed by the Election Commission.

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