Sena Development gets serious with solar

SSE chief executive Kessara Thanyalakpark said the company would more than triple its current capacity of 30MW to reach the target. (Photo supplied by the company)

SSE chief executive Kessara Thanyalakpark said the company would more than triple its current capacity of 30MW to reach the target. (Photo supplied by the company)

SSE chief executive Kessara Thanyalakpark said the company would more than triple its current capacity of 30MW to reach the target. (Photo supplied by the company)

SET-listed Sena Development Plc is diversifying into solar power and expects to tap rising demand for renewable energy.

The property developer marked the official opening of wholly owned Sena Solar Energy Co (SSE) yesterday by announcing a target of 100 megawatts of solar power capacity within three years.

SSE chief executive Kessara Thanyalakpark said the company would more than triple its current capacity of 30MW to reach the target.

SSE must set aside 3.5 billion baht for capital expenditure to increase its power-generating capacity by 70MW after spending 1.5 billion to build the current capacity, Ms Kessara said.

Before yesterday’s grand opening, Sena tested the waters in recent years by creating joint ventures with First Solar Co, a solar panel maker, and Eight Solar Co, a developer of solar farms and rooftops.

It also formed a joint venture with B. Grimm Power Co to develop two solar farms in Saraburi and Nakhon Pathom with a combined power-generating capacity of 46.5MW. Those projects are due to begin operations this year.

The two farms are expected to generate 200 million baht in revenue in the first year, doubling to 400 million by 2018, when they will run at full capacity.

SSE also intends to make solar rooftops for its new property projects. In the first quarter of this year, the company expects to officially launch two new low-rise residential projects in the Ram Intra and Boromratchonnanee areas under the moniker “solar smart villages”.

Plans call for the launch of 10 new residential projects this year, mostly solar smart villages.

SENA shares closed yesterday on the Stock Exchange of Thailand at 2.50 baht, down two satang, in trade worth 10.5 million baht.

Source: http://www.bangkokpost.com/property/news/901916/sena-gets-serious-with-solar