Thai solar co SPCG’s profit grows 30% in 2015

Construction News

Thai solar co SPCG's profit grows 30% in 2015

Thai solar power company SPCG Pcl (MAI:SPCG) saw its 2015 net profit jump to THB 2.47 billion (USD 69m/EUR 62m), up by 30% year-on-year.

SPCG currently operates 36 solar farms in Thailand, totaling 260 MW of capacity. Not all of them were fully operational in 2014 so electricity sales were lower and, in turn, profitability and revenues were lower.

The company’s annual gross margin remained unchanged at 73%, while 2015 revenue grew by 15% to THB 5 billion.

Recently, SPCG said it plans to invest in a 30-MW photovoltaic (PV) project in Japan, taking advantage of “the clear opportunity of business growth”. The project is being executed by Kyocera Corp (TYO:6971) and Century Tokyo Leasing Corp (TYO:8439) in Japan.

(THB 100 = USD 2.800/EUR 2.518)