Mr. Masthawin Charnvirakul, Director of STP&I Public Company Limited (SET: STPI) revealed to Kaohoon that the Monsoon project is preparing to supply power to the commercial system with its commercial operation date (COD) set in the middle of this May.
This project is the construction of the largest wind power plant in the Southeast Asia region, using a fund of USD 930 million (THB 30 billion). This 600 MW power plant, covering the area of 68,000 hectares (425,000 rai), is located in Laos’ southern region, between the provinces of Sekong and Attapeu.
STPI holds 16% of the project’s stake and will recognize the revenue immediately once the power plant starts supplying electricity to Vietnam. This year, the company will recognize a revenue of about THB 60 – 70 million and full year revenue in 2026 of approximately THB 150 million per year.
Mr. Masthawin stated that the construction will finish ahead of schedule by 5 months (December 2025 in early timeline), which will allow the company to receive the revenue earlier than anticipated.
This project has Monsoon Wind Power Company Limited acting as its developer. The company is a joint venture between Impact Energy Asia Development Limited (IEAD) and BCPG Public Company Limited (SET: BCPG), a subsidiary of Bangchak Corporation Public Company Limited (SET: BCP).
Mr. Masthawin also added that STPI is in the process of negotiating for a right to participate in the project’s second phase, and will know the result in this year’s third quarter. The company is confident that it will acquire higher shareholding and energy sales volume in this second phase, compared to the first. Furthermore, STPI believes that the project will significantly increase its overall performance.
According to STPI’s reports on its performance from 2020 to 2024, the company faced several high volatility, especially in 2020. When combining the gains and losses in these periods together, STPI would have a net loss of THB 369.32 million in total, or THB 73.86 million per year.
The Monsoon project has an essential role in supporting sustainable clean energy in the ASEAN region. It can reduce greenhouse gas by no less than 750,000 tons of carbon per year. Furthermore, the project also supports the energy collaboration between nations in the region and the economic development in Laos through job creation and basic infrastructure.
Additionally, Mr. Masthawin revealed that the company is planning to build a 100MW Green Data Center project in Chonburi, Thailand. The company has signed an MOU with multinational corporations in China, USA and Europe for a joint development.
The electricity used in this Green Data Center project will be entirely generated from clean energy, giving it an appealing price competitiveness. Terms and conditions are being discussed with its partners, and is expected to settle within the third quarter of this year.
