SET-listed WHA Utilities and Power (WHAUP), an arm of WHA Corp, Thailand's biggest industrial land developer and operator, is allocating a large portion of its budget to develop its renewable energy business, hoping to earn long-term revenue by serving companies in the digital technology sector.
The development plans are being supported by a budget of 29 billion baht, set to be spent between 2025 and 2029.
Almost 75% of the funding is to develop the company's solar power business, including ground-mounted solar panels and rooftop solar panels, said Somkiat Masunthasuwun, chief executive of WHAUP.
The remainder is required for a business to supply water to factories in industrial estates as well as offer wastewater treatment services, he said.
WHAUP has set a target to increase its power generation capacity by 220 megawatts this year, bringing total capacity to 1,185MW, up from 965MW in 2024.
Renewable power makes up 45% of the company's total power supply, with fossil fuel-derived power accounting for 55%.
The company is focusing on clean energy development as entrepreneurs are committed to campaigns aimed at reducing carbon dioxide emissions.
Many foreign companies which have decided to build their facilities in WHA's industrial estates require clean electricity to run their businesses.
The companies, the majority of which operate data centres, are building their facilities, which are scheduled to be completed by the end of this year.
WHAUP expects to see the result of its renewable energy investment in 2026 when it supplies electricity to these companies, said Mr Somkiat.
In the second quarter of this year, WHAUP will start piloting a peer-to-peer power trade among a group of factories in WHA industrial estates in Rayong and Chon Buri, he said.
The project, implemented under the ERC sandbox, has power generation capacity of 4MW, which will be produced and traded among 49 firms and seven prosumers.
The ERC sandbox, overseen by the Energy Regulatory Commission (ERC), was launched in 2019. It aims to test the micro grid system and prosumer concept, which refers to factories that both generate and consume electricity.
In the water business, WHAUP expects the amount of water supply and treated wastewater for its clients in Thailand and Vietnam to reach 173 million cubic metres this year, a 4% increase from last year.