BG Energy Solution Co (BGE), the energy arm of Bangkok Glass Plc, plans to spend 4-5 billion baht to expand its renewable power business in Asia-Pacific countries to 100 megawatts during 2019-23.
Founded in May 2017, BGE expects to generate revenue of 500 million baht by 2023 when it completes the investments.
Somporn Temudomsomboon, BGE's managing director, said the company wants to expand into Laos, Vietnam, Myanmar, the Philippines, Indonesia and Australia, as it sees new opportunities and demand for renewable energy.
"We are studying investment in solar farms in those countries, as well as wind farms and geothermal and waste heat recovery projects," Mr Somporn said, adding that BGE has expertise in a variety of renewable segments.
BGE started its renewable business in 2010 to generate power for Bangkok Glass plants. Examples include the waste heat recovery and solar power projects at facilities in Ayutthaya and Khon Kaen run by SET-listed BG Container Glass Plc.
Mr Somporn said BGE is negotiating with local investors and the Vietnamese government on a 50MW solar farm near Ho Chi Minh City worth 1.5 billion baht. The company expects to conclude the deal this month.
"We have already prepared the budget for the project in Vietnam," he said. "Once BGE achieves this deal, the project will have a commercial operation date (COD) in June 2019."
At home, BGE plans to expand the 2MW solar rooftop project worth 60 million baht at Rojana Industrial Park in Kabin Buri district, Prachin Buri to supply electricity for Bangkok Glass plants.
The project will have its COD in mid-2019.
BGE currently has a solar rooftop capacity of 12MW at Rojana Industrial Park in Ayutthaya province, also supplying power for Bangkok Glass plants.
Mr Somporn said BGE completed its investment of 130-200 million baht for a 1.5MW combined cycle power project at Rojana Industrial Park in Kabin Buri. The project will have its COD in the fourth quarter of 2019.
He said BGE is also interested in biogas power projects worth a combined 1.55 billion baht in the three far-southern provinces of Narathiwat, Pattani and Yala.
"BGE is studying the feasibility of a biogas power plant in Yala's Betong district, because those southern provinces have potential to supply biogas," Mr Somporn said.
According to the Energy Ministry, the southern provinces could possibly produce up to 500MW of power from biogas, compared with 95MW generated by 15 power plants now.