SPCG’s Solar Roof Business Saw A 543% Jump In Revenue In Q1 2023 Compared To Q1 2022

Photo by Pixabay on

SPCG shows financial statements for the first quarter, earning 1,181.9 million baht, an increase of 12% from the same period last year and continuing to make profits With a net profit of 646.2 million baht, we are confident that this year’s performance will continue to be profitable.


Dr Wandee Khunchornyakong Julcharoen, Chairman and President of SPCG Public Company Limited or SPCG revealed that the overall business is still moving forward with the operating results in the first quarter of the company. and its subsidiaries ending March 31, 2023, with a total income from sales and services of 1,181.9 million baht, an increase of 12% from the same period last year with an income of 1, 054.9 million baht and the company’s net profit was 646.2 million baht, a decrease of 3% from the same period last year with a profit of 666.1 million baht, representing earnings per share of 0.56 baht.

Dr Wandee said that the first increase in revenue was due to the amount of electricity produced and distributed in the amount of 99.2 million units from the business of producing and distributing solar energy, amounting to 36 solar farms in total capacity. Production of more than 260 megawatts, an increase of 1.7 million units from the previous year, or 2 per cent effectively in order to enhance liquidity and maintain the profits of the company.

Also Read  SJVN Secures 915 Cr Green Financing from JBIC for Two Solar Projects

The next rank is due to Solar Power Roof Co., Ltd. or SPR (a subsidiary of SPCG), a leader in the design and installation of solar power systems on the roof (Solar Power Roof System) in the amount of 226.3 million baht, an increase of 543% compared to the previous year, in which the company continues to expand installations. More than 200 megawatts have already been installed due to the continuous increase in electricity costs. In addition, the demand for electricity from clean energy is increasing. The policy announced that Thailand will enter into carbon-neutral energy use in 2050 and become Net Zero in 2065. In addition, the cost of solar power generation has decreased compared to the power generation from natural gas, oil, and coal, which apart from having a high price. 


From greenhouse gas emissions which are a major environmental problem in the world today, SPR has constantly adjusted its marketing plans and sales strategies. to increase competitiveness and provide more options for customers. Especially customers in the industrial group that still give a good response because when the customer installs the company’s solar roof system has seen good results Able to reduce electricity bills immediately upon installation. It also reduces operating costs.  

Also Read  Octopus Energy Group And Masdar Sign Agreement To Manage UK Battery Storage

As for the solar farm project, Fukuoka Miyako Mega Solar, Japan. The total installed capacity is 67 megawatts (MW), divided into 2 phases: North Phase 23 megawatts (MW) and South Phase 44 megawatts (MW) completed in September 2021 and February 2023 respectively. The total investment budget is 3,140 million yen or about 805 million baht by SPCG. Holds 10% of shares, amounting to 314 million yen or approximately 91 million baht. The said project has a purchase rate of electricity in the form of FiT 36 yen per unit, the purchase period of North Phase 18.7 years and South Phase 17.8 years. Kyushu Electric Power Co., Inc. is the off-taker. The project can Power generation better than expected. 

However, on March 28, 2023, Dr Wandee Khunchornyakong Julcharoen, Chairman and President of SPCG Public Company Limited as one of the joint venture companies Participated in the official launch of the project in Miyako City, Fukuoka, Japan.

As for the Ukujima Mega Solar Project, with a total installed capacity of 480 megawatts (MW), the total investment budget is approximately 178,758 million yen, or approximately 60,000 million baht, in which the Company holds 17.92% of shares, equivalent to 9,000 million yen or approximately 2700 million baht, the company will pay the remaining instalment within the year 2023. At present, the project has made more progress. It is in the process of construction and is expected to begin commercial operation (COD) within July 2024.  

Also Read  Mohammed bin Rashid Approves 78 Environmental Projects And Initiatives Ahead Of COP28

“SPCG is confident that every solar farm in Japan that the company has invested In addition to helping reduce global warming or Climate Change, also generates good returns for the company in the future,” said Dr Wandee.

In addition, the company is still looking for investment in new projects. both domestically and internationally continuously to increase the company’s electrical production capacity It will mainly focus on renewable energy. It has set a goal in the next 5 years to have the capacity according to the shareholding proportion of not less than 1,000 megawatts.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.