Thachang Green Energy (TGE), an SET-listed biomass power plant developer and operator, expects significant business growth between 2025 and 2026 thanks to additional power generation capacity from power plant projects in the pipeline.
The company is not adding capacity this year, but believes its revenue will rise by more than 10% because of higher electricity generating efficiency and increased sales to Provincial Electricity Authority (PEA), the state power distribution arm, said Pongnarin Wanasuwanakul, chairman of TGE's executive committee.
In 2023, its revenue grew by 6% to 955 million baht.
TGE is operating three biomass power plants in the southern province of Surat Thani, namely TGE, TPG and TBP. The facilities, located in Tha Chang district, have a combined installed capacity of 29.7 megawatts, with 20.3MW sold to PEA under long-term power purchase agreements.
The company is preparing to develop seven new power plants. Five of them, which use community waste as fuel, will be located in areas under the supervision of local administrative bodies in Sa Kaeo, Ratchaburi, Chumphon, Samut Sakhon and Chai Nat.
Each plant is designed to have a capacity of 8MW, except a facility in Samu Sakhon which will operate with a capacity of 9.9MW.
The company expects to win the right to develop another two power plant projects in an auction, to be held this year. The projects, also fuelled by community waste, are situated in Ubon Ratchathani and Prachin Buri.
All seven power plants are scheduled to start operations between 2025 and 2026.
Mr Pongnarin expects TGE to see its revenue increase to 2.5 billion baht in 2026, driven by the full operations of all new power plants.
The company is also planning to apply for licences to develop and operate waste-to-energy power plants in the Asia-Pacific region, but Mr Pongnarin did not disclose the countries.
The power business in the overseas markets will play a key role in increasing the company's electricity generation capacity to 200MW by 2032, he said, adding that half of the capacity will come from domestic power plants.
TGE's current capacity stands at 76.6MW.
