SET-listed Ratchaburi Electricity Generating Holding Plc (Ratch) has earmarked 16-26 billion baht for 2019 capital expenditure.
Chief executive Kijja Sripatthangkura said 6 billion baht is for construction of eight projects.
"Once the eight projects are operational, electricity capacity will reach 7,638 megawatts, up from 6,863MW last year," said Mr Kijja.
"The new capacity will be ready for distribution from 2019-2021."
He said another 10-20 billion baht will be allocated for asset acquisition in the near future.
"There are 2-3 deals proceeding covering many types of power resources, fossil fuel-based and renewable, but Ratch cannot reveal the details," said Mr Kijja. "Many deals could be disclosed by June."
Ratch is Thailand's largest capacity private power producer. The company plans to change its name to Ratch Group Plc soon.
It expects to achieve power capacity, based on ownership, of 10,000MW by 2023.
Mr Kijja said the new power capacity will cover Asia-Pacific.
At home, Ratch is awaiting implementation of the newly revised national power development plan (PDP) 2018-2037 to open more private participation in the country's electricity generation system.
According to the latest PDP, private investors will be granted power generation licences for a combined 8,300MW during 2018-37.
Private investors can participate in terms as independent power producers. This excludes the renewable energy that the PDP sets at 18,000MW, which also lets private investors participate.
The Energy Regulatory Commission will run and design the bidding process. However, the domestic power market is expected to slow down in a couple of years, so Ratch will focus on expansion overseas.
Ratch set a goal for overseas projects to account for 50% of total revenue by 2023, up from 32% in 2018.
Mr Kijja said Ratch also withdrew from the auction for the third phase of the Map Ta Phut port because return on investment is too limited.
Separately, the company reported 2018 revenue of 45.1 billion baht, down by 4%, but net profit for the period rose by 15.5% to 6.45 billion before foreign exchange loss.
Revenue last year came from three major sources: sales and service as well as financial leasing, making up 62.4%; profit-sharing from jointly controlled companies and dividends at 33.3%; and interest income and others 4.3%.
