TPCH bids to power growth

TPCH bids to power growth

Renewables to play key role in expansion

SET-listed TPC Power Holding Plc (TPCH), a power business arm of engineering and construction service provider Thai Poly Con Plc (TPC), expects strong growth until 2020 thanks to expansion of its renewable power capacity.

Kanoktip Chanpalangsri, chairwoman of the executive board, said the company aims to expand capacity to 200 megawatts by 2020, up from 60MW. The company currently has 59MW in the construction and development stage.

TPCH is one of the country's top biomass power developers and operators.

Mrs Kanoktip said TPCH aims to join the Energy Regulatory Commission (ERC)'s auction for the new round of renewable energy projects, with combined capacity of 280MW.

The ERC will run the auction for very small power producers (VSPP) under a semi-firm power purchase agreement, whereby eligible producers can sell energy to the government at will if it has been generated via renewable sources.

TPCH aims to win at least 80MW for the upcoming auction round, which was postponed from early 2018 to the second half to better fit the revised national power development plan, which will be finished by April.

The VSPP semi-firm auction is intended to secure more power from renewables, including solar and wind.

The ERC will let investors choose among a variety of renewable sources, that can either be blended or come from a single biomass source.

Mrs Kanoktip said the company is well poised for the upcoming auction because of its experience in the renewable industry, while its parent firm is also a construction service provider.

"We are quite confident we will be awarded a licence thanks to our readiness and expertise," she said.

Moreover, TPCH is also ready to bid on a Nonthaburi metropolitan solid waste or refuse-derived fuel project, with 20MW capacity.

The Nonthaburi Administration Office aims to clear out a large amount of waste by offering it up as biomass fuel. Bidding on that project is set to open soon.

TPCH expects revenue to grow by 30% year-on-year on the back of its biomass operations.

TPCH brought the Satun Green Power biomass project online last Friday, with capacity of 9.2MW.

Shares of TPCH closed yesterday on the Stock Exchange of Thailand at 14.90 baht, up 30 satang in trade worth in trade worth 18.3 million baht.

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