WHAUP aims to meet EEC utility needs

WHAUP aims to meet EEC utility needs

WHAUP workers install solar panels on the roof of an industrial estate building. WHAUP's services include electricity, water, natural gas and solar rooftops.
WHAUP workers install solar panels on the roof of an industrial estate building. WHAUP's services include electricity, water, natural gas and solar rooftops.

SET-listed WHA Utilities and Power Plc (WHAUP) is considering massive capital spending over the next five years for utility capacity expansion to tap rising demand from the Eastern Economic Corridor (EEC) scheme.

WHAUP is an arm of WHA Corporation Plc, a warehouse operator and industrial estate developer.

WHAUP expects investment flows into the EEC over the next several years, with demand for utilities to follow, said chief executive Wisate Chungwatana.

"But the amount of capex has yet to be concluded, as WHAUP has to seek approval from its board of directors by November," he said.

The investment budget will be for WHAUP's existing services, including electricity, water, natural gas and solar rooftops.

WHA Energy Co is in charge of the power business, while the water business is run by WHA Water Co.

The solar rooftop business is under WHA Solar Co.

Mr Wisate provided updates on two large WHAUP projects under development: an eight-megawatt waste-to-energy power plant in Chon Buri and a 122MW gas-fired power plant in Rayong.

"We expects to commence operations of the two projects next year," he said.

Mr Wisate said WHAUP already announced a diversification of business into natural gas distribution for clients in industrial estates, mostly in EEC locations.

WHAUP has received licences for the power trade by the Energy Regulatory Commission, but it must wait for the ERC's conclusion on tariff rates for setting a retail power price.

Chief financial officer Paopitaya Smutrakalin said WHAUP signed a gas purchase agreement with PTT Plc and is awaiting clear-cut tariff rates.

WHAUP is conducting a feasibility study for solar rooftop projects because it aims to install the rooftops on warehouses at industrial estates.

The company expects 2018 sales to grow by 10-15% to over 4 billion baht from 3.7 billion baht a year earlier.

WHAUP shares closed yesterday on the Stock Exchange of Thailand at 5.75 baht, down five satang, in trade worth 22.1 million baht.

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