Superblock Plc, an alternative energy company, plans to sell electricity directly to customers in the Eastern Economic Corridor region, says its executive.
Jormsup Lochaya, chairman of Superblock , said the company is negotiating to sell solar electricity to private companies in the Eastern Economic Corridor region as part of its plan to expand its clean energy business in Thailand and abroad.
He has reached a purchase agreement for 40 megawatts of solar power with a customer in the EEC and plans to announce details by the end of the year, Jormsup said. The contract term of contracts will be 20 years, he said while not revealing the name of the business counterpart.
Superblock is listed on the local bourse, and has so far sold 780 megawatts of solar energy in Thailand’s power market.
Jormsup said his company could lower the cost of electricity for customer by about 5-8 per cent compared to electricity generated by state enterprises.
In China, its 20MW solar plant in Tianjin started to sell electricity in March this year, he said.
A 10MW plant in Sa Kaeo province would soon open to generate electricity from burning garbage, he said, and two additional investment projects are being planned for Phetchaburi and Phichit provinces next year, he said.
The company is also working on wind energy plans in Vietnam after an MOA was signed in August this year.
Jormsup said the company plans to expand solar farm, wind farm and biomass energy plants both in Thailand and abroad. He predicted large investments abroad in the next 2-3 years as the company aimed at being the leading alternative energy producer in Asian region.
Shareholders would benefit from the external growth, he said. Super Solar Energy (Hong Kong) 1 Co, which is wholly owned by Super Energy Group is responsible for investment expansion in China, Japan and Vietnam.
He said that the Bt792.5 million investment in the Tianjin, China project would bring stable income for company over the next 25 years. He estimated revenue from this 20MW plant at Bt150 million annually, with the plant charging customers Bt4.4 per electricity unit.
The company planed to add more 10MW solar generated electricity production in China, and is looking for investment in other countries, he said.
Superblock expects its electricity sell, or commercial operation date (COD). will increase by the end of this year to 800-900MWs and will continue to increase over the next three years.
Consolidated revenue in the first nine months of this year was Bt4.3 billion, up 82.04 per cent, while its net profit was Bt1.4 billion, a jump of 287.12 per cent compared with the same period last year.