Dan’s Biz Bookshelf: Four Important Books You Need to Read (Not Just Say You Have)
The Marketing Minute: Cracking the Code of Technical Marketing
Thai Solar Energy Posts 2015 Results, Boosts Solar Energy Output in Japan to 100 MW in 2016
March 7, 2016 | ACN NewswireEstimated reading time: 2 minutes
Thai Solar Energy (TSE), a leading SET-listed producer and distributor of solar power to the government sector, has announced a 526.7 million baht net profit from its financial results in 2015, representing a 38% increase from the 381.4 million baht net profit in 2014.
The profit was derived from revenues from a combination of power sales from the company's own solar-rooftop projects and revenue shares from solar-farm joint ventures with the state-run oil company PTT in which TSE holds 60%.
According to TSE's Chief Financial Officer Mr. Tee Seeumpornroj, revenue from TSE's own sales and services came in at 129 million baht in 2015, marking a huge 139% jump from the previous year. Another larger portion of revenues totaling over 1,500 million baht was derived from the solar-farm joint ventures with PTT which produced a total of 80 MW.
Mr. Tee noted that the outstanding financial performance in 2015 came as the result of TSE's efficient management of its solar energy businesses, particularly the 10 solar-farm projects in joint venture with PTT which produced a combined 80 MW, or higher than the guaranteed volumes. TSE booked full-year revenue from the 14 MW generated from its own solar-rooftop projects for the first time in 2015.
"2015 has been a good year for TSE as we were able to generate satisfactory revenues and profits. New projects that are being planned now will further strengthen our performance and help sustain stable growth into the longer-term future," Mr. Tee stated.
Dr. Cathleen Maleenont, the Chairperson and Chief Executive Officer, stated that TSE will continue to expand its solar-energy business aggressively this year both in Thailand and overseas, particularly in Japan where the company is currently negotiating with potential local partners on 2-3 solar-farm projects with a combined capacity of 40-50 MW. The negotiations are expected to be concluded in mid-2016.
A recent meeting of the TSE Board approved an investment budget of 2,000 million baht to build a solar-farm power plant with an installed capacity of 17.5 MW in Hanamizuki, Ishikawa. Prospec Holdings Inc. will be contracted to build the plant with construction scheduled to begin in this quarter and to be completed in 2017. This latest project will raise the combined capacity of all ongoing projects in Japan to 42 MW.
"We are ready to expand our renewable-energy business both from solar power and other renewable sources in order to become a market leader in this field in the Asian region, particularly in Japan and AEC. Our target is to produce 100 MW of solar energy from our overseas operations this year, rising to 300 MW within three years," Dr. Cathleen stated.
About Thai Solar Energy PCL
Thai Solar Energy PCL, or TSE, was established in Bangkok in 2008, and is the first company in Southeast Asia to have effectively applied solar energy commercially. The Company supplies electricity to the government following the policies of the Energy Policy and Planning Office, Ministry of Energy to encourage production and consumption of renewable energy, and distributes electricity to the Provincial Electricity Authority (PEA) and Metropolitan Electricity Authority (MEA).
TSE was established by Thai national shareholders who together share the common goal of pushing the technological envelope for clean renewable energy, and harnessing this energy for the benefit of those communities that surround it. It was listed on the SET MAI (Market for Alternative Investment) on Oct 30, 2014, as SET:TSE.
The profit was derived from revenues from a combination of power sales from the company's own solar-rooftop projects and revenue shares from solar-farm joint ventures with the state-run oil company PTT in which TSE holds 60%.
According to TSE's Chief Financial Officer Mr. Tee Seeumpornroj, revenue from TSE's own sales and services came in at 129 million baht in 2015, marking a huge 139% jump from the previous year. Another larger portion of revenues totaling over 1,500 million baht was derived from the solar-farm joint ventures with PTT which produced a total of 80 MW.
Mr. Tee noted that the outstanding financial performance in 2015 came as the result of TSE's efficient management of its solar energy businesses, particularly the 10 solar-farm projects in joint venture with PTT which produced a combined 80 MW, or higher than the guaranteed volumes. TSE booked full-year revenue from the 14 MW generated from its own solar-rooftop projects for the first time in 2015.
"2015 has been a good year for TSE as we were able to generate satisfactory revenues and profits. New projects that are being planned now will further strengthen our performance and help sustain stable growth into the longer-term future," Mr. Tee stated.
Dr. Cathleen Maleenont, the Chairperson and Chief Executive Officer, stated that TSE will continue to expand its solar-energy business aggressively this year both in Thailand and overseas, particularly in Japan where the company is currently negotiating with potential local partners on 2-3 solar-farm projects with a combined capacity of 40-50 MW. The negotiations are expected to be concluded in mid-2016.
A recent meeting of the TSE Board approved an investment budget of 2,000 million baht to build a solar-farm power plant with an installed capacity of 17.5 MW in Hanamizuki, Ishikawa. Prospec Holdings Inc. will be contracted to build the plant with construction scheduled to begin in this quarter and to be completed in 2017. This latest project will raise the combined capacity of all ongoing projects in Japan to 42 MW.
"We are ready to expand our renewable-energy business both from solar power and other renewable sources in order to become a market leader in this field in the Asian region, particularly in Japan and AEC. Our target is to produce 100 MW of solar energy from our overseas operations this year, rising to 300 MW within three years," Dr. Cathleen stated.
About Thai Solar Energy PCL
Thai Solar Energy PCL, or TSE, was established in Bangkok in 2008, and is the first company in Southeast Asia to have effectively applied solar energy commercially. The Company supplies electricity to the government following the policies of the Energy Policy and Planning Office, Ministry of Energy to encourage production and consumption of renewable energy, and distributes electricity to the Provincial Electricity Authority (PEA) and Metropolitan Electricity Authority (MEA).
TSE was established by Thai national shareholders who together share the common goal of pushing the technological envelope for clean renewable energy, and harnessing this energy for the benefit of those communities that surround it. It was listed on the SET MAI (Market for Alternative Investment) on Oct 30, 2014, as SET:TSE.
Share on:
Testimonial
"Our marketing partnership with I-Connect007 is already delivering. Just a day after our press release went live, we received a direct inquiry about our updated products!"
Rachael Temple - AlltematedSuggested Items
U.S. Manufacturing Jobs Decline Amid Tariffs and Immigration Crackdown
09/17/2025 | I-Connect007 Editorial TeamManufacturers in the U.S. are cutting jobs even as President Donald Trump pushes policies he says will revitalize the industry. Employers shed 12,000 manufacturing jobs in August, while payrolls in the sector have fallen by 42,000 since April, according to a new analysis from the Center for American Progress (CAP) based on government labor data.
Defense Speak Interpreted: If CHIPS Cuts Back, What Happens to Electronics Packaging Funds?
09/02/2025 | Dennis Fritz -- Column: Defense Speak InterpretedIn my May column, I examined the topic of the CHIPS Act and its current status as a U.S. government program. I found that CHIPS activities continue, but some corporations have delayed or canceled them because of budget cuts or corporation-specific problems. However, CHIPS integrated circuits—mostly administered by the Department of Commerce—don’t fully drive the electronics interconnection activity being funded by the government. Let’s cover the progress/status of other programs:
Ecolab to Acquire Ovivo’s Electronics Ultra-Pure Water Business
08/15/2025 | EcolabEcolab Inc. has entered into a definitive agreement to acquire Ovivo’s Electronics business, a leading and fast-growing global provider of breakthrough ultra-pure water technologies for semiconductor manufacturing.
Eltek Ltd. Reports Strong Second-Quarter 2025 Results
08/14/2025 | PR NewswireEltek Ltd., a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), today announced its financial results for the quarter ended June 30, 2025.
Magnachip Semiconductor Announces YJ Kim to Step Down as CEO; Current Board Chairman Camillo Martino Appointed Interim CEO
08/14/2025 | PR NewswireMagnachip Semiconductor Corporation today announced that YJ Kim has agreed to step down as CEO and as a member of the Board of Directors, effective immediately. Camillo Martino, Chairman of the Board of Directors, has also been appointed Interim Chief Executive Officer, effective immediately.
Copyright © I-Connect007 | IPC Publishing Group Inc. All rights reserved.
Log in