Bloomberg cited Chief Financial Officer Amorn Sapthaweekul as saying that the renewable energy generation capacity will increase from approximately 100MW to 570MW by 2017.
The company plans to invest about TBH17bn to develop two solar projects, with combined capacity of 180MW. Energy Absolute is currently operating the biggest solar power project in Nakhon Sawan province, Thailand.
Additionally, the firm is considering to invest a further TBH29bn ($623.8m) for the construction of wind farms, with a combined capacity of 390MW.
According to the Energy Ministry’s website, its solar and wind energy capacity would increase from 1,046MW in 2013 to 4,800MW by 2021.
Amorn said in an interview to Bloomberg: "Revenue from solar and wind power plants will outstrip the company’s traditional biodiesel business after the completion of those new plants in the next few years."
The investment funds of about three-fourths will come from commercial bank loans while the remaining from the company’s existing cash reosurces.
