SET-listed WHA Utilities and Power (WHAUP), an arm of Thailand's biggest industrial land developer and operator WHA Corp, is planning to spend 2.3 billion baht to support its business and serve growing demand for water and clean electricity in Thailand and Vietnam.
A portion of the budget will be allocated for renewable energy expansion, with a goal to reach electricity generation capacity of 1,000 megawatts under power purchase agreements with the government, said Somkiat Masunthasuwun, director and a member of the WHAUP executive committee.
"We want to develop more renewable energy to serve the demand growth in industrial estates because many investors need clean energy to support their operations, as part of a global trend that aims to reduce carbon dioxide," he said.
Many companies are committed to campaigns to cut carbon dioxide emissions, which are blamed for causing global warming.
Thailand announced in 2021 at the 26th UN Climate Change Conference that it would take serious action to deal with climate change, striving to achieve carbon neutrality, a balance between carbon dioxide emissions and absorption, by 2050.
WHAUP supplies 427MW of electricity from clean energy sources to its customers, with 283MW of the total coming from its rooftop solar panel business.
The company is also interested in new business opportunities in alternative energy, especially hydrogen, as well as technologies such as battery energy storage systems and carbon capture, utilisation and sequestration, said Mr Somkiat.
WHAUP is helping the government reduce carbon dioxide emissions in the transport sector by developing charging facilities to support electric vehicle usage.
The company aims to install up to 120 chargers this year.
In the water business, WHAUP continues to invest in new water production and wastewater treatment projects to serve factories in WHA's industrial estates, especially in Vietnam.
WHAUP expects to sell 178 million cubic metres of water in Thailand and Vietnam this year, said Mr Somkiat.
The parent company announced earlier it allocated a budget of 78 billion baht to support its businesses between 2024 and 2028.
Some 15 billion baht is allotted for this year, with 9 billion for industrial estate development, 3.3 billion for the logistics business, 2.3 billion for utilities and power, and 400 million for digital technology investment.