Biomass power giant turns its sights to solar energy
After seeing a big jump in revenue this year, biomass power producer National Power Supply (NPS) is all set to establish the country’s largest private floating solar farm with a capacity of 150 megawatts capacity.
The company enjoyed a 24.38% jump in revenue to 5.64 billion baht in the first quarter of 2023 over the same period last year, NPS executive director Yothin Dumnernchanvanit said on Monday.
“Revenue in the first quarter exceeded our target as NPS no longer relies on a Power Purchase agreement with government alone,” he added. “We have signed long-term contracts with more than 130 industrial customers, who trust the capacity of our biomass power plants nationwide and are willing to pay above market price for clean energy.”
He added that NPS is also in talks with the 304 Industrial Park in Prachin Buri province to be the main supplier of clean energy. The deal would further widen the company’s customer base, strengthening its stability in the power production business as well as promoting the use of clean energy among industries.
Yothin said that NPS is planning to branch out to solar power by building a floating solar farm with 150 megawatts capacity, which will be the largest in Thailand operated by a private company.
“The project will help NPS reduce manufacturing costs and move us closer to becoming a 100% clean energy producer, while further boosting the use of clean energy in Thailand,” he said.
Currently NPS has a total of 11 biomass power plants with a combined capacity of 770.7 MW. According to Yothin, the company has adopted the government’s BCG model in conducting sustainable business using bio, circular, or green economy.
He said the company’s ‘Green Ecosystem’ approach focuses on promoting participation among power plants, industrial customers, farmers and surrounding communities in producing and using renewable energy to create a stable power grid that will sustainably boost the grassroots economy.
