FRIDAY, March 29, 2024
nationthailand

Sakol plans expansion into clean energy business

Sakol plans expansion into clean energy business

Sakol Energy (SKE) has unveiled plans to acquire businesses related to the clean energy and the environment to boost its revenue and profits next year.

Jakkraphong Sumethchotimetha, the managing director of the gas station operator, said green and clean energy business trends are likely to grow for many years.

"Also, the company plans to expand its existing business while also seeking new opportunities, pending approval from the Securities and Exchange Commission.” Meanwhile the rapidly changing situation meant risk assessment was necessary for some SKE projects.

"The company still has sufficient funds for investment and we will consider issuing warrants based on the company's and shareholders' benefits," he said

SKE would also produce and sell compressed biomethane gas (CBG) to industries in Bangkok and its vicinity rather than in other provinces where demand had dropped.

Jakkraphong expects SKE revenue and profit to increase next year, forecasting performance in the fourth quarter this year would not improve from the third quarter due to a decline in demand for CBG and Natural Gas Vehicle (NGV) fuel amid the economic slowdown and falling oil prices.

"Also, we have maintained our target to boost electricity production capacity to 30 megawatts by 2022.”

He said long-term contracts with strong partners meant company operations would not be disrupted next year, while expressing confidence the government would be able to contain the spread of Covid-19.

"However, the company will make efforts to diversify risks based on the Covid-19 crisis and economic situation in order to seek opportunities for investment in other types of energy in the future," he added.

nationthailand