WHAUP to invest 2.3bn baht in renewable energy projects

WHA Utilities and Power (WHAUP), a subsidiary of Thailand’s largest industrial land developer WHA Corp, is set to invest 2.3 billion baht to bolster its operations and meet the rising demand for water and renewable energy in Thailand and Vietnam.

A significant portion of this budget will be directed towards expanding renewable energy, aiming to achieve an electricity generation capacity of 1,000 megawatts through power purchase agreements with the government, according to Somkiat Masunthasuwun, director and member of the WHAUP executive committee.

“We want to develop more renewable energy to serve the demand growth in industrial estates because many investors need clean energy to support their operations, as part of a global trend that aims to reduce carbon dioxide.”

Many companies are aligning with global campaigns to decrease carbon dioxide emissions, which are attributed to global warming.

At the 26th UN Climate Change Conference in 2021, Thailand committed to addressing climate change earnestly, to achieve carbon neutrality by 2050.

WHAUP currently supplies 427 megawatts of electricity from clean energy sources, with 283 megawatts generated from its rooftop solar panel business.

Somkiat added that the company is also exploring new opportunities in alternative energy, particularly hydrogen, as well as technologies like battery energy storage systems and carbon capture, utilisation and sequestration.

In addition to renewable energy, WHAUP is aiding the government’s efforts to reduce carbon dioxide emissions in the transport sector by developing charging facilities to support electric vehicle usage. The company plans to install up to 120 chargers this year.

In the water sector, WHAUP continues to invest in new water production and wastewater treatment projects to cater to factories in WHA’s industrial estates, especially in Vietnam.

WHAUP anticipates selling 178 million cubic metres of water in Thailand and Vietnam this year, according to Somkiat.

Earlier, WHA Corp announced a budget allocation of 78 billion baht to support its businesses from 2024 to 2028. Of this amount, 15 billion baht is designated for this year, with 9 billion for industrial estate development, 3.3 billion for the logistics business, 2.3 billion for utilities and power, and 400 million for digital technology investment, reported Bangkok Post.