Thai Solar Energy Public Company Limited

The Royal Gazette has officially announced the regulations for the community solar farm procurement programme, with total capacity of no more than 1,500 megawatts, setting a fixed feed-in tariff of 2.1679 baht per unit and 25-year power purchase agreements. The scheme uses selection criteria focused on project quality and suitability rather than the previous system based on the order in which bids were submitted. The 1,500 MW community solar farm programme is separate from the 10,000 MW people's solar plan. Brokers view the news as positive for renewable power operators. Finansia Syrus Securities said the stocks to watch are GULF, BGRIM, GPSC, GUNKUL, WHAUP and SPCG, while Krungsri Securities sees WHAUP, GUNKUL and SSP as beneficiaries, and Yuanta Securities Thailand picked GUNKUL, SSP and TSE. Thai Solar Energy Public Company Limited, or TSE, plans to take part in both the community solar programme and direct power purchase agreements, or Direct PPA, targeting at least 100 megawatts of new offered generating capacity to serve demand for clean electricity from data centre operators and the industrial sector, and is studying the use of battery energy storage systems, or BESS, alongside its projects. TSE is also pressing ahead with its Solar Big Lot programme of 28 projects with total offered capacity of 229.06 megawatts, for which it has already signed 25-year power purchase agreements with the Provincial Electricity Authority. The first four projects, with combined capacity of 30.20 megawatts, are expected to start commercial operation in the second quarter of 2027, while the remaining 24 projects, with combined capacity of 198.86 megawatts, are expected to gradually reach commercial operation during 2028 to 2030. Once all 28 sites are running, the company expects to generate additional revenue of about 900 million to 1 billion baht per year. TSE also has a community waste-to-energy power plant project in the Khorum subdistrict of Uttaradit province, with offered capacity of 8 megawatts and a concession period of 28 years and 6 months. It is currently preparing an environmental impact assessment report and is set to sign a power purchase agreement. Key issues to watch going forward are the schedule for accepting proposals, the competition criteria and project allocation, which will be major factors shaping each operator's chances of expanding generating capacity.

The preliminary September composite Purchasing Managers' Index for both manufacturing and services in the United States jumped to 58.4, the highest in more than five years, up from 56.0 in August, according to a survey by S&P Global. As a result, the yield on 10-year US Treasury bonds surged past 5%, reaching a 19-year high, adding weight to expectations that the Federal Reserve will raise interest rates again at its October meeting. The move pressured the Dow Jones Industrial Average to close at 51,511.59 points, down 352.10 points, or 0.68%. The S&P 500 closed at 7,706.03 points, down 58.61 points, or 0.75%, and the Nasdaq closed at 26,936.04 points, down 308.24 points, or 1.13%. The market was also pressured by Brent crude oil prices surging nearly 4% and concerns that the war between Iran and the United States could be prolonged, after Iranian President Masoud Pezeshkian declared at the United Nations General Assembly that Iran would not surrender to US pressure, just one day after President Donald Trump threatened that he could obliterate Iran. In European stock markets, the STOXX 600 closed at 639.92 points, down 2.86 points, or 0.44%, after oil prices rebounded past 100 dollars per barrel, with energy stocks rising 1.3%, while insurance stocks and construction and building materials stocks fell 1.7% and 1.3% respectively. As for the Thai stock market, the index is expected to move sideways, with GUNKUL among the stocks to watch after the Energy Regulatory Commission opened the way for the development of community solar projects with a capacity of 1,500 megawatts at a power purchase price of 2.1679 baht per unit. GUNKUL is ready to bid for several projects and take on EPC work fully, while its subsidiary TSE aims to add at least 100 megawatts of new power generation capacity through both community solar projects and direct power purchase agreements, or Direct PPAs, to serve electricity demand from the data center business.

Thai Solar Energy Public Company Limited, or TSE, has laid out a strategy to capture Thailand's energy transition, preparing to bid for Direct PPA and Solar Community projects under the new Power Development Plan, or PDP2026, which calls for clean energy to account for more than 60% of the mix. The company aims to add at least 100 megawatts of offered generating capacity to serve demand for clean electricity from data centers and the industrial sector. Kathleen Maleenont, Chief Executive Officer of TSE, said Direct PPA will be a key mechanism for meeting that demand, and the company is studying the use of battery energy storage systems, or BESS, alongside its projects. Meanwhile, TSE is pressing ahead with 28 Solar Big Lot projects with a combined offered generating capacity of 229.06 megawatts, for which it has already signed 25-year power purchase agreements with the Provincial Electricity Authority. The first four projects, with a combined capacity of 30.20 megawatts, are expected to begin commercial operation in the second quarter of 2027, while the remaining 24 projects, with a combined capacity of 198.86 megawatts, will gradually come online between 2028 and 2030. Once all 28 projects are complete, they are expected to generate an additional 900 million to 1 billion baht in annual revenue. In addition, a community waste-to-energy plant with an offered generating capacity of 8 megawatts, which has secured a 28-year and 6-month concession with the Khorum subdistrict in Uttaradit province, is in the process of preparing an environmental impact assessment report and awaiting the signing of a power purchase agreement. The company is also expanding into the Health & Wellness sector to create a new S-Curve and diversify its revenue sources.

Thai Solar Energy Public Company Limited, or TSE, reported its second-quarter 2026 operating results during an Earnings Call (OPPDAY), posting net profit attributable to shareholders of 26 million baht for the three-month period, up 84% from the same period a year earlier. Profit for the six-month period totaled 80 million baht, with total revenue of more than 646 million baht, reflecting improved operating efficiency at its solar and biomass power plants as well as cost management. The company currently operates 53 renewable energy projects spanning solar, biomass and community waste-to-energy plants, and has expanded into the healthcare business, such as an in-vitro fertilization technology clinic, to add new revenue streams. Chief Executive Officer Dr. Cathleen Maleenont said the company plans to continue expanding generating capacity through its Solar Big Lot project and is preparing to bid for clean energy projects under the government's Power Development Plan, PDP 2026, to deliver sustained profit and strong returns. The event was held recently at the company.

TSE reported a half-year profit of 80 million baht on total revenue of more than 646 million baht. The company plans to move into the health sector, such as fertility technology clinics, or IVF, to add new revenue streams. It also plans to keep expanding production capacity through the Solar Big Lot project and is preparing to take part in clean energy project auctions under the government's power development plan, or PDP 2026. Meanwhile, WP received a certificate for corporate carbon footprint labelling for the year 2569 from the Thailand Greenhouse Gas Management Organization, reflecting its emphasis on sustainable greenhouse gas management. Globlex Securities estimates that the SET Index will swing in a volatile range this week, moving between 1,570 and 1,630 points, pressured by WTI crude oil surging above 100 dollars, while supported by the upward revision of Thailand's GDP to 2.5%. It recommends adjusting portfolios in line with the FTSE Rebalance, with CPN entering and leaving among Large Caps, CPN entering among Mid Caps, and BTS, FTREIT, LH, SCCC, THAI and TU entering among Small Caps.

Thai Solar Energy Public Company Limited (TSE) is accelerating the development of its Solar Big Lot projects under power purchase agreements totaling 229.06 megawatts. The first batch consists of 4 projects with a combined capacity of 30.20 megawatts, scheduled to commence commercial operation (COD) within the second quarter of 2027, which will start generating revenue from that period. Currently, the company has procured solar panels and inverters and is in the process of obtaining construction permits, with overall progress on track. Additionally, TSE plans to expand investments in solar, biomass, and community waste-to-energy power plants, aligning with the PDP 2026 plan, while studying opportunities in Solar Community and Direct PPA projects, aiming to add another 100-200 megawatts of total capacity. As for the waste-to-energy plant in Uttaradit province with a capacity of 8 megawatts, it is in the process of preparing for contract signing. For the second quarter of 2026, the group reported EBITDA of 144 million baht, net profit of 25.9 million baht, up 83.7% from the same period last year, and gross profit of 132 million baht, up 23%.

Thai Solar Energy Public Company Limited (TSE) is accelerating the expansion of its clean energy portfolio after signing power purchase agreements (PPAs) for Solar Big Lot projects totaling 229.06 megawatts. The company is currently developing the first four projects with a combined capacity of 30.20 megawatts, expected to achieve commercial operation date (COD) in the second quarter of 2027. Meanwhile, TSE plans to study Solar Community and Direct PPA projects, targeting an additional 100-200 megawatts of capacity, and is developing an 8-megawatt waste-to-energy plant in Uttaradit Province. For the second quarter of 2026, the company reported a net profit of 26 million baht, up 84% year-on-year, with gross profit of 132 million baht, up 23%.

Thai Solar Energy Public Company Limited (TSE) has disclosed its operational plan for the second half of 2026, continuing its steady expansion of the clean energy portfolio. The Solar Big Lot project, a key growth driver, has signed power purchase agreements totaling 229.06 megawatts of sellable capacity. Among these, the first four projects, with a combined sellable capacity of 30.20 megawatts, are under construction and are slated to commence commercial operation (COD) in the second quarter of next year. Concurrently, the company plans to study and invest in additional Solar Community and Direct PPA projects, targeting an additional 100-200 megawatts of total capacity to support future portfolio growth. It also continues to develop an 8-megawatt waste-to-energy power plant in Uttaradit Province, which is in the process of contract signing and project development.

Thai Solar Energy Public Company Limited (TSE) is moving forward with expanding its clean energy portfolio, with power purchase agreements (PPAs) for Solar Big Lot projects totaling 229.06 megawatts. The company is accelerating construction of the first batch of 4 projects with a combined capacity of 30.20 megawatts, expected to achieve commercial operation date (COD) in the second quarter of 2027. Meanwhile, CEO Dr. Kathleen Malinon stated that the company is ready to participate in the Solar Community bidding and is studying Direct PPA, aiming to increase total capacity by 100-200 megawatts. Additionally, the company plans to develop a waste-to-energy power plant project with a capacity of 8 megawatts in Uttaradit Province, in line with the PDP 2026 plan, creating a new S-Curve. For the second quarter of 2026, the company reported a net profit of 26 million baht, an increase of 84% compared to the same period last year, and a gross profit of 132 million baht, up 23%.

Thai Solar Energy Public Company Limited, or TSE, reported second-quarter net profit for 2026 of 26 million baht, up 84.4 percent from the same period last year. Gross profit was 132.1 million baht, up 22.9 percent, as cost of sales and services fell 19.9 percent and finance costs dropped 28.5 percent following loan repayments. The company is moving ahead with phases one and two of its Solar Big Lot project, with total offered capacity of 229.06 megawatts. The first phase comprises four projects totaling 30.20 megawatts, targeted for commercial operation in early 2027, while another 24 projects totaling 198.86 megawatts will come online gradually from 2028 to 2030 to build recurring income and long-term cash flow.

Thai Solar Energy Public Company Limited, or TSE, has signed a memorandum of understanding with Sungrow Power Supply, a leading inverter manufacturer from China, to supply solar inverters for 15 Solar Big Lot projects with a total capacity of 99.70 megawatts. Commercial operations are scheduled to begin gradually between 2027 and 2030. The first phase, currently under construction, comprises four projects totaling 30.20 megawatts and is set to start operations in early 2027. An additional 24 projects totaling 198.86 megawatts are planned for development, bringing the total capacity of the Solar Big Lot projects to 229.06 megawatts.

Thai Solar Energy Public Company Limited, or TSE, has signed a memorandum of understanding with Sungrow Power Supply, a global inverter manufacturer from China, to supply solar inverters for 15 Solar Big Lot projects with a total installed capacity of 99.70 megawatts, scheduled for commercial operation between 2027 and 2030. TSE's entire Solar Big Lot portfolio comprises 28 projects with a total capacity of 229.06 megawatts. Of these, the 15 projects are part of the next phase, which plans to develop an additional 24 projects with a total installed capacity of 198.86 megawatts. The first phase, consisting of 4 projects with a total installed capacity of 30.20 megawatts, is currently under construction and will gradually achieve commercial operation in early 2027. Dr. Cathleen Maleenont, CEO of TSE, stated that selecting technology partners with international standards is a key strategy, and the collaboration with Sungrow will enhance project efficiency while supporting the company's clean energy expansion goals.

TSE is moving forward with the development of Solar Big Lot phases 1 and 2, with a total installed capacity of 229.06 megawatts, partnering with global solar panel and inverter manufacturers. Commercial operation dates are expected from 2027 onward. Management believes this will be a key driver of revenue growth, reduce debt burden, and strengthen the company in the long term, amid positive factors from the new power development plan.