SET-listed Banpu Power Plc (BPP) plans to increase its goal for power generation capacity from 4,300 megawatts by 2025, as it is confident it can achieve that target ahead of schedule.
Sutee Sukruan, BPP's chief executive, said business expansion in terms of power generation is happening faster than previously estimated.
"As of yesterday, Banpu Power has committed to power capacity on hand of 2,900MW," he said.
"Of the total, 2,150MW is already in operation, while the remaining 1,400MW can be constructed and developed in less than seven years."
Mr Sutee said the new revised goal will be disclosed by June.
The company is optimistic about the potential of the power business across Asia-Pacific, he said.
"Many countries in the region are keen to expand power generation, both via fossil-based and renewable projects, such as China, Japan, Laos, Indonesia, the Philippines, Australia and Thailand."
Domestically, Banpu Power is ready to develop the second unit of coal-fired power generator BLCP in Map Ta Phut, Rayong. This project has a capacity of 1,000MW.
BLCP's environmental health impact assessment report has been approved.
Banpu Power expects to have a power tariff lower than its peers because its facility and transmission line are completed and the planned capacity is enough for the second unit.
"But BLCP will not be prioritised by the Energy Ministry because it uses coal as fuel," said Mr Sutee.
"Banpu Power will add this second unit to join the fourth auction round for independent power producers in the next couple of years."
In China, the government is slowing promotion of renewable energy, but sentiment in the power business favours mergers and acquisitions because several power companies are planning to spin off businesses for new investors to acquire, he said.
"There is a deal in China that Banpu Power aims to acquire in 2019," said Mr Sutee.
In Japan, the company has 13 solar farms on hand with total power capacity of 234MW and five are operating, while the remaining eight solar farms will commence operation during 2019-23.
Mr Sutee said Banpu Power sees a lot of potential in Japan's solar power segment because the government there opened up the market for overseas investors.
In Vietnam, the company is conducting a feasibility study on an 80MW wind farm project in Soc Trang province.
Banpu Power has an agreement with Vietnam's energy policymakers to develop wind farms with a combined power capacity of 200MW.
The 80MW first phase is expected to start development in the second half of 2019.
Mr Sutee said the Vietnamese government is in talks with Banpu Power for further development of fossil-fired power generation because the country wants to expand power generation to serve fast-growing demand.
