Ua Withya (UWC) has bought a biomass power plant in Nakhon Ratchasima for Bt525 million, in its quest to be a leader in renewable energy.
In a press release, the company said the 9.9-megawatt power plant has secured a power purchase contract from the Provincial Electricity Authority. It would immediately generate Bt220 million in annual revenue, starting from the fourth quarter of this year. The power plant is also exempted from income tax until 2019 and is subjected to 50 per cent tax in the subsequent five years.
Peratus Dhanarachwattana, managing director, said this investment would help the company achieve the target to increase the renewable energy generating to 50MW this year.
Currently using risk husk as fuel, the biomass power plant would be remodelled to use a combination of fuel sources. Earlier, the company took over small power plants in Nakhon Si Thammarat and Khon Kaen.