WHA Utilities and Power (WHAUP), a subsidiary of Thailand’s largest industrial land developer and operator, is ready to accumulate wind and solar power technology facilities in Vietnam with a capacity of 50-100 megawatts. Recession-proof aims to capitalise on the growing vitality demand within the country. The acquisition is expected to be finalised by the end of the year, according to Chief Executive Somkiat Masunthasuwun.
The new property will enable WHAUP to expand its operations in Vietnam beneath the nation’s eighth national energy development plan (PDP 8). The plan provides traders the opportunity to ascertain both fossil and renewable fuel-based energy crops, with a complete capacity of over a hundred and fifty gigawatts.
“Most of the model new capacity in PDP 8 will come from wind power. We is not going to lose this enterprise alternative,” mentioned Somkiat.
He additionally mentioned that the company anticipates a 150% enhance in whole revenue by 2027, reaching 7 billion baht, up from the estimated 2.eight billion this yr. This development is attributed to efforts to fight climate change. WHAUP’s businesses in both Vietnam and Thailand are expected to play a big position in producing income.
Between 2023 and 2027, the company plans to allocate 18.5 billion baht to help its energy and water businesses. In 2022, WHAUP’s power era capability from gasoline and coal-fired power crops, hydropower technology, and rooftop solar power reached 699MW. The capacity is projected to extend to 740MW this 12 months, pushed by the rooftop photo voltaic panel and photo voltaic farm businesses.
Under the 5.2GW renewables scheme overseen by the Energy Regulatory Commission, WHAUP can be making ready to develop photo voltaic farms with a mixed capacity of 125MW..