NPS, Thailand Installs 60 MW Floating Solar Power Plant

National Power Supply Public Company Limited( NPS) has said that the company has successfully completed the installation of the first phase of the 60 MW floating solar power plant or “Floating Solar Farm” on the well, measuring 1,200 rai, at Si Maha Phot District Prachinburi Province.

Yothin Damnernchanvanit President of NPS said that it will start its operations in the fourth quarter of 2023. The firm is in the process of installing a 90 MW Floating Solar Farm Phase 2, which is expected to be completed and ready to generate electricity in the first quarter of 2024. With a total 150 MW capacity of electricity from the Floating Solar Farm project, it will be considered as one of the world’s largest ever,the local media reported.

“Currently, NPS has a total installed power capacity of 770 MW, of which 433 MW is produced from biomass fuel and when combined with another 150 MW of solar power capacity, the company will be able to produce a clean energy hybrid (Solar Biomass Hybrid Power Generation) effectively meets the ever-increasing demands of large-scale industrial customers who prioritize the conservation of natural resources and the environment,” he said.

The statement further informed, “Along with increasing clean energy production capacity, NPS also co-operated with 304 Industrial Park (304IP) to establish a company. The goal is to develop 304IP in an integrated way. as well as to enhance the potential of marketing and sales agencies in order to cover more target groups that  are industrial entrepreneurs, both domestically and internationally.”

Yothin further added, “The business restructuring of NPS from being a main electricity generating company to selling to the Electricity Generating Authority of Thailand (EGAT) and selling retail electricity to the industrial sector to become a company providing space for building industrial factories. along with providing basic utilities This includes electricity, steam and raw water with quality and stability for industrial customers. and that the number of industrial entrepreneurs investing in building factories in 304 Industrial Park increased rapidly in line with the recovery of the global economy. Including the relocation of industrial production bases to export from China, Taiwan and European countries to Southeast Asia, resulting in an increase in demand for electricity, steam and industrial water. coupled with the efficient management of a skilled management team Having high vision and experience will be a mechanism that drives NPS to grow steadily in the long run.”

“For the performance of the first quarter of 2023, NPS has a total revenue of 5,650 million baht, an increase of 1,108 million baht or 24 per cent from the same quarter in 2022, with 66 per cent of all revenue coming from industrial customers. The rest comes from electricity sales to EGAT and the result from strict control of fuel quality and moisture content. and efficient risk management from fluctuations in coal fuel prices, resulting in the company’s net profit for the first quarter of 2023 being as high as 619 million baht and from the trend of coal prices in the world market that began to decline. Including the generation and distribution of electricity between solar energy and biomass. will result in the overall cost of electricity production of the Company significantly decreased in the long term,” pointed out Yothin.