Thailand's Super Energy posts $55 mln H1 revenue in Vietnam
Thailand’s Super Energy Corporation recorded a revenue of THB1,938.4 million ($55.1 million) from its activities in Vietnam in the first half of this year, according to the firm's financial statement.
Of this, revenue from solar power projects reached THB1,707 million ($48.2 million), up 1.47% year-on-year, thanks to increased light intensity during the period.
Meanwhile, wind power made THB231.4 million ($6.9 million), up 14.89% year-on-year, thanks to better weather conditions leading to higher average wind speeds.
Thanks to this performance, Super Energy Corporation posted a gross profit of THB1,026.5 million ($29.1 million) from its activities in Vietnam, up 6.9% year-on-year. The figure included THB888.83 million ($25.2 million) from solar projects and THB137.63 million ($3.9 million) from wind energy.
Globally, Super Energy Corporation recorded a revenue of THB5,083 million ($143.3 million) in H1/2023, up 6.56% year-on-year. Of which, solar power projects in Thailand, its home country, accounted for the biggest portion of 49%, followed by solar power projects in Vietnam with 34%, waste-to-energy projects in Thailand with 9%, wind power projects in Vietnam with 4%, and other businesses with 4%. Its gross profit reached THB2,655.3 million ($75.2 million) in the period, up 6.4% year-on-year.
A Super Energy Corporation solar farm in Binh Thuan province, south-central Vietnam. Photo courtesy of the firm.
A major step for Super Energy Corporation in Vietnam in H1/2023 was completing the first phase sale of a 49% interest in Solar NT Holdings, which operates nine solar farms in Vietnam, to AC Energy Vietnam Investments Pte. Ltd., a subsidiary of the Philippines-based AC Energy Corporation (ACEN). The remaining phases of the sale are set to be completed in 2023, Super Energy Corporation said.
Entering Vietnam in 2017, Super Energy operates nine solar power projects with a total capacity of 836.72 MW, and one wind power project of 50 MW. Besides, four wind power projects in Vietnam totaling 421 MW are under construction or waiting for commercial operation date (COD) acceptance.
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