Mr. Yothin Dumnernchanvanit, Executive Director of National Power Supply Public Company Limited or NPS, the leader in Biomass Power Plant business, reveals the strong financial status of the Company in 2023. The total revenue of Q1/2023 has exceeded the target at 5,649.30 million Baht, an increase of 1,108 million Baht YoY or 24.38%, which is an assurance to move forward with the largest Floating Solar Farm project in Thailand with 150 MW capacity.
“We began the year of 2023 with the good news that NPS has exceeded the target, which was the result of our determination to be more than other electricity power plants that only deliver to the government sector. We are not only relying on the long-term power purchase agreement with the government, but NPS has also made some long-term agreements with over 130 industrial customers, together with our largest Biomass power plant in Thailand, which is strongly trusted by the industrial customers. Nowadays, we have long-term power purchase agreements with the industrial customers that require clean energy for their production line, and they are willing to pay higher prices than the market price. Moreover, we also have new potential customers and we are in the process of negotiating with 304 Industrial Park, which will become our base customers in the future. All of these positive impacts increase our electricity sales ability, and we can also rely on our industrial customer base, which is our advantage to build sustainability and stability in the long run for NPS.
Other than the good news on the revenue, NPS is going forward with the largest private Floating Solar Farm Project in Thailand, with the capacity of 150 MW. One of the benefits from the project is that it will minimize the cost of fuel as well as it is a true clean energy. This will strengthen the Company’s business and will support the use of clean energy in Thailand” said Mr. Yothin.
As of today, NPS has a total of 11 COD power plants, and a total electricity installed capacity of 770.70 MW, a total steam installed capacity of 2,661.80 tons per hour. In Q1/2023, the Group had a total revenue of 5,649.30 million Baht, and a net profit of 619.31 million Baht. NPS also pushes the BCG business model or Bio-Circular-Green economy, with the concept of creating sustainable green ecology between industrial customers, farmer community, and renewable energy power plants experts, aiming to become the lead developer of the sustainable power in Thailand, and to become a part of developing sustainable local economy.