SET-listed Delta Electronics Thailand, a maker and distributor of power management solutions and electronics components, is studying the feasibility of an energy storage business in response to the global popularity of electric energy.
Kittisak Ngoenngokngam, business director for Southeast Asia, said the company will team up with PTT Group and the Electricity Generating Authority of Thailand to invest in energy storage in the near future.
"Our feasibility study is for the energy storage business and the future market, both locally and overseas," he said.
"Delta expects this collaboration to be concluded soon."
Mr Kittisak said Delta will install trial energy storage of 500 kilowatt-hours at its plant in the Bangpoo Industrial Estate in the third quarter.
He said energy storage will be included in Delta's business segment of infrastructure together with its solar-panel inverter and charging station for electric vehicles (EVs).
Delta installed a 2MW solar rooftop at the Bang Poo plant and provides quick charges of 25-50 kilowatts (KW).
The company also installed a normal charger with 7.3KW at Thailand Automotive Institute and Metropolitan Electricity Authority.
Hsieh Shen-yen, Delta's president, said it is focusing on three core business segments: power electronics, automation and infrastructure.
He said the renewable energy business and energy-saving solutions have become a global trend. Delta is seeking new opportunities to expand and invest in those business, mainly in the form of mergers and acquisitions.
Founded in 1988, Delta operates in four regions -- Asia, Oceania, Europe and North America -- through 31 subsidiaries.
Delta expects 2018 revenue growth of 10% to 50 billion baht, thanks to demand growth for products globally, especially in Asean and India.
Last year, the company posted revenue of 49.3 billion baht, up 5.1%, though net profit fell by 10.6% to 4.9 billion baht.
Separately, Delta announced it is joining Asean Sustainable Energy Week 2018 during June 6-9 at Bitec, organised by UBM Asia (Thailand) Co.
Sanchai Noombunnam, UBM's deputy managing director, said it will hold the iEVTech & Electric Vehicle Asia 2018 event during the same period and at the same venue, where it hopes to gather EV technologies from 45 countries, including Germany, Singapore, the US and South Korea.
The events will include an international EV technology conference and exhibition for Asia-Pacific. The showcases will gather 500 booths from 1,200-1,500 local and foreign companies, expecting more than 27,000 visitors during the four days.
"South Korea's battery company will visit, aiming to find a Thai partner to co-invest on a battery plant," he said.