SET-listed Super Energy Corporation is planning to develop Thailand’s first power plant based on hybrid renewable resources under a “firm” power purchase agreement (PPA).
A firm PPA refers to a steady supply of electricity provided to the Electricity Generating Authority of Thailand (Egat).
Usually renewable power, except electricity produced by refuse-derived fuel, is in the non-firm PPA category. Sun, wind and biomass are intermittent sources of power because their production depends on weather conditions and seasons.
Jormsup Lochaya, chief executive and vice-chairman of the Super Energy board, said the company will develop the hybrid renewable project this year and expects to start operation by the end of next year.
The 2-billion-baht project has an installed power generation capacity of 49 megawatts from an on-ground solar farm, with back-up power from a 1MW biogas-fired power plant and a 136MW-hour energy storage system.
The facility, located in Sa Kaeo province, claims to have the largest capacity in Southeast Asia for a hybrid renewable power plant.
According to the company, 16MW of electricity will be sold to Egat under a PPA.
Mr Jormsup said the project will generate an average internal investment return of 16% over 20 years, with expected revenue per year averaging 230-250 million baht.
“We want to be the first company in Thailand with hybrid renewable energy under a firm PPA,” he said. “We are also planning the next phase of development in the Eastern Economic Corridor.”
Mr Jormsup said Super Energy wants to prepare for higher demand for clean energy from foreign companies in Thailand that need to keep their factory operations in line with campaigns to reduce carbon emissions under the 2015 Paris Accord.