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Energy Absolute eyes wind, solar projects

Firm to invest Bt25 billion, targets revenue growth of 40 per cent next year

Energy Absolute plans to invest Bt25 billion in solar- and wind-power projects next year, and is negotiating with Chinese and European firms on setting up joint ventures to develop alternative-energy programmes.

The company targets revenue growth of 40 per cent next year, said chief executive officer Somphot Ahunai. This year, it expects to post net profit of Bt200 million.

He said the company planned to invest Bt25 billion over the next two years to build two solar-power plants producing 90 megawatts each and three wind-power plants generating a total of 126MW. The solar plants will be in Lampang, to be completed by the end of next year, and Phitsanulok, to be ready in 2015. Their investment value will be about Bt15 billion to Bt16 billion.

There will be two wind-power plants built in Nakhon Si Thammarat and one in Songkhla, on total investment of Bt9 billion.

According to the business plan, the company will have total capacity of 278MW from solar power and 180MW for wind power.

The investments will be made from the company's cash flow. However, Energy Absolute is looking into ways to raise funds that will not affect its shareholders, including a possible infrastructure fund.

"The company has studied the idea of an infrastructure fund. We need to make sure that it's needed and remunerative, because it is very important for the company to protect the interests of shareholders," Somphot said.

Currently many investors from European countries and China are interested in solar and wind power, and Energy Absolute is negotiating with some of them. Finding such partners can pay benefits not just in terms of funding as a way of capitalising on their experience and knowledge, he said.

Somphot believes 2013 revenue will be higher than last year's thanks to increased sales volume of biodiesel. Net profit is expected to reach Bt200 million.

The company reported revenue of Bt2.7 billion and net profit of Bt171.65 million in the first nine months of the year.


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