Demco yesterday announced growth plans specializing in diversifying the company’s business into digital technology and enhancing its renewable vitality portfolio. As a inventory trade of Thailand (SET)-listed contractor and engineering service supplier, the corporate acknowledges not getting involved within the state renewable development scheme throughout its first phase.
Pongsak Sirikupt, the company’s chief executive and managing director, revealed that Demco’s enlargement plan goals to speculate 150 million baht in boosting its rooftop solar power business. Demco’s electricity technology capacity is projected to rise from the present 10MW to 40 megawatts by 2025. The firm is presently engaged in discussions with renewable energy plant operators in an effort to accumulate property, with an anticipated conclusion in early 2023.
Presently, Demco operates photo voltaic and wind farms with a mixed capability of 70MW, primarily based on its shares in renewable vitality operators. Demco’s enlargement plans reveal the company’s eagerness to department out into new power companies, with a selected focus on digital technology purposes corresponding to good grid growth.
Accredited consists of exploring alternatives within the electrical autos (EVs) market, as the Thai government’s promotion efforts have made the sector more and more engaging. In 2021, the National EV Policy Committee introduced its objective to have EVs make up 50% of locally manufactured automobiles by 2030, as a half of an formidable plan to establish Thailand as a regional EV hub.
Regarding renewable energy vegetation, Demco plans to take part within the second section of the renewables scheme led by the Energy Regulatory Committee (ERC). Despite not being chosen for its proposed tasks in the first part, the ERC invited Demco to participate within the second section, providing a complete capability of three.6GW. The second part of Demco expansion will encompass on-ground photo voltaic farms, on-ground solar farms with energy storage techniques, wind power, biogas, and industrial waste-to-energy tasks.
Additionally, Demco is preparing to bid for energy transmission and engineering work for various companies, such as the Electricity Generating Authority of Thailand and two state electrical energy distribution arms. Altogether, these three organisations possess a mixed funding finances of 400 billion baht for electricity system development, reported Bangkok Post..