Thailand’s WHA Utilities & Power upbeat on 2021 revenue
Power, water sectors drive 25% boost
SET-listed WHA Utilities & Power Plc (WHAUP), which provides utilities under WHA Corp, Thailand’s biggest industrial land developer and operator, expects its 2021 total revenue to soar by 25% from 2.6 billion baht last year thanks to higher sales.
The power and water businesses are expected to drive WHAUP’s growth, said chief executive Niphon Bundechanan.
Its power generation capacity is slated to rise 14% this year to 670 megawatts, up from 590MW last year.
The volume of water is scheduled to rise by 34% to 153 from 114 million cubic metres per year in 2020.
New water customers in Thailand and Vietnam, including power generation and petrochemical firms, will drive business growth despite the recurrence of the pandemic in the two countries, he said.
Electricity sales are anticipated from new factories in the two markets.
WHAUP also operates a rooftop solar panel business, with capacity increasing to 44MW in March, up from 18MW in the same period last year.
The company previously won an engineering, procurement and construction contract for a 5MW rooftop solar panel installation for Auto Alliance (Thailand) Co, which runs a shared assembly facility for Ford and Mazda.
The project, which is scheduled for completion in August, covers 45,000 square metres in Rayong. WHAUP has been operating and maintaining the system for 10 years. The installation of solar panels began in November last year.
WHAUP was also awarded a contract to install 4.2MW of rooftop solar panels for Continental Tire (Thailand), a German tyre producer in Rayong.
The company set a goal to increase total capacity of its rooftop solar power business to 90MW this year and 300MW by 2023. The service is for customers inside and outside industrial estates operated by WHA Group.
WHAUP also signed a memorandum of understanding for a smart energy platform with Sertis Co and PTT Group to develop a platform to optimise electricity management by using artificial intelligence and blockchain technology.
Source: https://www.bangkokpost.com/business/2123531/whaup-upbeat-on-revenue
