Thailand based, Prime Road Power, an operator of solar farms and provider of solar panel installation services, aims to increase clean power generation capacity to 1,800 megawatts across Asia within five years. This was disclosed by Chairman and Founder Somprasong Panjalak.
“The company’s current capacity is 307.5MW. Part of the new capacity will come from Prime Road’s energy projects in Taiwan, where the authorities are promoting investment in clean energy,” said Somprasong. It may be noted that the Taiwanese government plans to increase renewable power generation capacity to 20 gigawatts by 2025, which is presently 7.7 GW.
As per the firm, Prime Road Power operates four solar farms in the country. It plans to add new capacity of almost 300MW over the next few years through projects including the 200-MW Miaoli Lake West solar farm, with investment worth US$400 million. The company is also looking for opportunities in Southeast Asia.
“In Cambodia, Prime Road Power runs the 77-MW Kampong Chhnang solar farm, “ said Somprasong, further adding that the country needs more power supply to serve its people as only 86.4% of the population can access the electricity network.
“The company also operates a 0.9 GW rooftop solar power business in Indonesia where the government, like Taiwan’s government, is eager to increase power generation capacity from renewable energy.” he said.
“Domestically, Prime Road Power and the Industrial Estate Authority of Thailand formed a joint venture named Prime Industrial Energy to promote solar power development at industrial estates, part of efforts to reduce carbon dioxide emissions in the manufacturing sector, noted Somprasong.
“Prime Industrial Energy is expected to be awarded solar power development contracts, with combined capacity of 30MW, within this year, said Somprasong.
According to Chief Finance Officer Piroon Shinawatra, Prime Road Power expects its revenue to grow by 30% to 1.4 billion baht this year from 1.1 billion in 2022, as a result of its expansion plans.
