MAI-listed TPC Power Holding (TPCH), a power business arm of engineering and construction service provider Thai Poly Con Plc (TPC), has announced its participation in an auction for the Energy for All renewable power scheme this year, held as part of government attempts to help the sluggish economy amid the pandemic.
While TPCH aims to increase power generation capacity based on clean fuel, its participation also helps the government create jobs for villagers.
Energy for All, which was introduced in 2019, encourages communities to co-invest with companies in power plants and sell fast-growing plants as fuel.
TPCH managing director Cherdsak Wattanavijitkul said the company will bid for 12 projects, with combined capacity of 40 megawatts. Of the total, 10 will use biomass as fuel while another two will be run by biogas.
He said the company already made agreements on joint development with local communities in the South, the North and the Northeast.
Project proposals, detailing costs and technical issues, are scheduled to be sent to the Provincial Electricity Authority from April 27-30.
The move is part of TPCH's goal to achieve power generation capacity of 250MW within 2023. Its current capacity, based on renewable energy, stands at 110MW, with an additional 16MW set to be added this year.
Mr Cherdsak expects to see TPCH's revenue grow by 30% this year due mainly to the new capacity.
Authorities plan to hold auctions for Energy for All, with a total capacity of 150MW, this year under a Quick Win concept, which emphasises power plants currently under construction or those yet to begin commercial operations.
TPCH also plans to participate in an auction for a waste-to-energy (WTE) scheme, which is set to be held during the second half of this year by the Energy Regulatory Commission.
Officials will call bids for WTE projects with combined capacity of 400MW between 2021 and 2035.