SET-listed Prime Road Power, an operator of solar farms and provider of solar panel installation services, is maintaining its revenue projection at 1.4 billion baht this year thanks to additional electricity generation capacity and higher purchase orders for its solar panel business, says chairman and founder Somprasong Panjalak.
The company raked in 1.13 billion baht in revenue last year.
At the end of this year, Prime Road Power expects to add new capacity of 380 megawatts, increasing the amount by 660MW in 2024, said Mr Somprasong.
The company aims to record total capacity of 1,800MW within five years, up from 307MW from solar farms, rooftop solar power and solar panel installation services in Asia.
He did not disclose how much the company will spend to boost its capacity, saying only it will both develop new solar power projects and acquire new assets.
Mr Somprasong said the increase in capacity is in line with growing concerns over the impact of global warming, caused by greenhouse gas emissions.
Thailand was among the countries which made solemn pledges to cut carbon dioxide emissions.
In 2021, then prime minister Prayut Chan-o-cha vowed at the 26th UN Climate Change Conference in Glasgow that Thailand would be more aggressive in addressing climate change, striving to reach carbon neutrality, a balance between carbon dioxide emissions and absorption, by 2050, along with a net-zero target, a balance between greenhouse gas emissions and absorption, by 2065.
Mr Somprasong said the medium to long-term growth of his company will be driven by the UN members' serious actions to curb the rise in world temperatures.
Taiwan is among the investment destinations of Prime Road Power.
The Taiwanese government plans to increase renewable power generation capacity to 20 gigawatts by 2025, up from 7.7GW at present.
Prime Road Power operates four solar farms in the country. It plans to add new capacity of almost 300MW over the next few years through projects including the 200-MW Miaoli Lake West solar farm, with investment worth US$400 million.