Mr. Tanachai Bunditvorapoom, Chief Executive Officer of Absolute Clean Energy Public Company Limited (SET: ACE), stated that in the second half of the year, the company plan to achieve a commercial operation date (COD) on 18 additional solar energy projects with a total capacity of 117.30 MW in which 59.35 MW will be under power purchase agreement (PPA).
Ten of these projects are solar farm projects, with a total capacity of 115.28 MW and 57.33 MW is under PPA. Six of which are already scheduled for COD within 3Q25. As for the remaining eight projects, they are solar rooftop projects with a total capacity of 2.02 MW for PPA.
If all go according to the schedule, ACE would have 53 commercialized projects by the end of 2025, with a total capacity of 468.63 MW and 318.35 MW under PPA. This capability will assist the company in reaching its revenue goal of this year.
The growth of ACE is generated from its current operating power plant projects, the revenue from the projects that achieves COD, and the projects that obtains through bidding. The company is confident in its ability in project bidding to strengthen its portfolio.
On August 26, ACE achieved COD of four solar farm projects, under a PPA capacity of 28.17 MW. These projects are part of 18 solar power projects that ACE bidded under the 2022-2030 Feed-in Tariff (FiT) contract. They are capable of generating 112.73 MW under PPA, and continuing to be commercialized from 2024 to 2027. The company estimated that its revenue will increase by about THB 650 – 680 million per year from a full-year revenue recognition.
Including the four solar farm projects that recently achieved COD, ACE currently has 92 power plant projects, with a total installed capacity of 758.25 MW. They are composed of 41 commercialized projects with total installed capacity of 422.82 MW and 51 under-development projects with total installed capacity of 335.43 MW.
As for ACE’s biomass power plant projects, their FiT contracts are about to expire but are expected to be extended. Currently, the National Energy Policy Committee (NEPC) and Energy Regulatory Commission (ERC) estimated that the Electricity Generating Authority of Thailand (EGAT) is considering extending the contracts and summoning entrepreneurs for discussion.
Regarding other power plants, such as waste to energy, solar, and gas power plants, with 20-25 year contracts, the company expects that they will be extended as well.
