Samart president Watchai Vilailuck was quoted by Reuters as saying that the company is negotiating with potential partners for joint investment of about THB1bn ($29.46m) for each of the garbage-fuelled power plants.
The company has set a revenue target of THB30bn ($882.8m) for this year.
The estimated decline of revenues from the company’s handsets business is expected to be offset by an increase in utilities and transportation turnover.
The revenue share of handsets is estimated to decrease from 52% in 2014 to 30% in 2015, while that from utilities and transportation is expected to grow from its 11% in 2014.
Samart currently owns a 16MW power plant in Cambodia and is also under contract to operate a waste power plant in Chiang Mai province, Thailand.
Vilailuck said that the company plans to sign up to two agreements with other provinces in the third quarter of this year.
