Thachang Green Energy (TGE), the SET-listed biomass power plant developer and operator, is preparing to build four waste-to-energy power plants this year to boost its revenue once public hearings on the projects are completed, reported the Bangkok Post.
The plants are awaiting approval from the Energy Regulatory Commission, which will make its decision following public consultation.
The facilities, which will sell electricity to the Provincial Electricity Authority, the state power distribution arm, under power purchase agreements, will be located in Sa Kaeo, Chai Nat, Ratchaburi and Chumphon provinces.
If approved, the plants will commence commercial operation between Q4 2025 and Q1 2026.
The projects are expected to be a key source of revenue in 2027, when TGE plans to rack up 3.5-3.7 billion baht (€90 – 95.1 million), up from 949 million (€24.4 million) last year, said chief executive Seubtrakul Binthep.
“We believe each plant can earn between 200 and 400 million baht (€5.1 – 10.2 million) a year when they are in full operation,” he said.
The company expects its revenue to stand at 1.1 billion baht (€28.2 million) this year.
The development cost of each project is estimated at 0.95-1.3 billion baht (€24.4 million – 33.4 million).
Up to 75% of the money will come from loans from financial institutions while the remainder will come from other sources, including profits and funds raised during the company’s earlier initial public offering scheme.
TGE is waiting for the result of an auction of three waste-to-energy projects in Ubon Ratchathani, Prachin Buri and Samut Sakhon.
The company aims to increase its power generation capacity to 200 megawatts, up from 36.7MW at present.