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Thai renewable energy developer, Super Energy Corporation Plc, is seeking to expand its electricity generation capacity to meet the growing demand for clean energy in Southeast Asia. The company is looking to form partnerships with other companies to further develop its solar and wind farms, as well as waste-to-energy projects in Thailand and Vietnam.
Super Energy is currently in talks with companies to jointly develop a 360-MW solar power project in Thailand, which was awarded to the company by the Energy Regulatory Commission (ERC). Additionally, the company is seeking partners for a 40-MW wind farm project, also awarded by the ERC.
The company has already partnered with NMB Minebea Thai to form a joint venture, Minebea Super Solar Power Co, to operate a private power purchase agreement (PPA) business in the Thai and Vietnamese markets. This business model involves installing solar panels for customers and providing maintenance services in exchange for electricity prices paid by the customer for a certain period of time.
Super Energy also runs four wind farm projects in Vietnam, including the 30-MW Soc Trang project, which is pending approval for a license to operate. The company has allocated 25 billion baht to support solar and wind power projects and waste-to-energy projects between 2025 and 2029. To raise more funds, Super Energy plans to sell some of its assets to support key renewable power development projects.
In 2022, the company sold its subsidiary, Super Earth Energy 1, a waste-to-energy developer, to SUS Thailand Holding Ltd, a subsidiary of China’s SUS Environment, for 1.1 billion baht. The company believes that the private PPA business in the Thai and Vietnamese markets has high growth potential, driven by demand from companies in the digital technology sector expanding into Southeast Asia.