SET-listed WHA Utilities and Power Plc (WHAUP) has earmarked 2.2 billion baht to enlarge its utility business, with the aim of developing and operating the country's largest expanse of rooftop solar panels, some 25 megawatts in total capacity, by the end of this year.
Half of the budget will go towards solar rooftop panels, making the company the largest operator of rooftop photovoltaic (PV) panels in Thailand, as Banpu Power operates 15MW.
The company also plans to diversify into natural gas distribution (NGD) and solar rooftops for consumers via parent WHA Corporation in the coming year.
Chief executive Wisate Chungwatana said half of capital expenditure is for power generation projects, including fossil-based and renewable resources, with the rest for water business.
WHAUP expects to finalise the purchase of tap water assets in Vietnam, where the government plans to spin off the state-owned tap water firm this year. The company allocated a budget of 500 million baht for the purchase. It expects power generation systems this year to expand to 570MW, up from 520MW.
Most new power generation is an expansion of solar rooftop capacity to 25MW this year, up from 6MW.
"Solar rooftops have been embraced by the industrial sector because they can halve energy costs, with 1MW of rooftop capacity able to potentially save 14 million kilowatts per hour," Mr Wisate said.
WHA has nine industrial estates in the Eastern Economic Corridor. The company estimates that the EEC has potential for 400MW in rooftop PV.
WHAUP is also looking into floating solar PV at reservoirs of industrial areas and was awarded concessions to develop 1MW of floating PV in Wise Wood Co's reservoir.
"We don't expect rooftop PV to be able to connect to the state grid, as regulations supporting a micro grid are a barrier to development," Mr Wisate said.
For its water business, WHAUP expects to increase sales volume by 10% this year to 120 million cubic metres from 105 million last year. The company diversified its water business into demineralised water for the industrial sector.
For its NGD business, WHAUP plans to expand to a third unit this year at WHA Eastern Seaboard NGD 3. The first NGD unit came into operation last year, and the second is to begin in May.
