Growing demand for solar power driven by expensive electricity bills is expected to increase revenue for SET-listed Scan Inter (SCN), a compressed natural gas seller and clean power operator, which set a 30-40% revenue growth target this year.
A new gas delivery contract with national oil and gas conglomerate PTT Plc should also contribute to the revenue increase.
Last year SCN posted revenue of 1.83 billion baht.
The rooftop solar power business under turnkey contracts and private power purchase agreements is operated by SCN and its subsidiary Scan Advance Power Co (SAP), respectively.
"Factory owners are more concerned about electricity bills in 2023, and they are determined to save on energy expenses," said Littee Kitpipit, chief executive of SCN. "Solar panel installation can save up to 20% on power expenses."
SAP is preparing to list on the Market of Alternative Investment to raise more than 300 million baht for expansion, he said.
The company has private power purchase agreements with 34 firms to install rooftop solar panels, with a combined electricity generation capacity of 25 megawatts.
The fundraising plan is aimed to enable SAP to sign more agreements and acquire solar power assets in order to boost total capacity to 55MW.
In the gas delivery business, which is the main source of revenue, SCN has been hired by PTT, the country's sole gas seller, to transport and distribute 700 tonnes of gas a day, up from 200 tonnes daily last year.
The amount would increase to 1,000 tonnes a day by the end of this year, according to Mr Littee.
The delivery contract, which lasts for a period of two years, is worth 500 million baht.
SCN plans to push ahead with the second-phase development of Minbu solar power plant in Myanmar after the project was delayed by the political conflict in the country and the impact of the pandemic.
Construction of more facilities will start by the end of this year and operation is scheduled to start in March next year.
Minbu, which has been operated by SCN unit Green Earth Power Co since September 2019, has a capacity of 50MW.
During the first phase, Minbu generated revenue of US$700,000 a month, said Mr Littee.
SCN also provides a construction service, with a backlog worth 250 million baht.