Thursday, September 16, 2021

in-focus

EA eyes two huge projects, forecasts 30% rise in 2021 revenue


Energy Absolute (EA) plans to invest in two huge projects worth up to Bt300 billion and expects its revenue to grow by 30 per cent next year.

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Somphote Ahunai, EA director, said his company was looking into options of raising funds for the projects it plans to develop in the next three to five years.
The two projects planned by EA are the construction of a lithium-ion battery manufacturing unit with a production capacity of 50 gigawatts per hour and a reservoir in the Mekong River with a power-production capacity of 3,000 megawatts.
Somphote said EA has enough cash for its ongoing projects, but not enough for future projects, which is why it needs to raise funds.
He also said that EA’s revenue in the third quarter of this year will be better thanks to an improvement in the operation of wind-power plants and solar farms. He also said the company has pulled through the Covid-19 crisis relatively unscathed.
He added that EA’s revenue is expected to grow next year by around 30 per cent as an improved economy will support its businesses, such as automobile and boat assembly plants, and its battery production facilities.
On Monday, EA’s subsidiary Amita Technology signed a memorandum of understanding with Chulalongkorn University for developing lithium ion technology and recycling batteries.

Published : August 25, 2020

By : THE NATION