The Thai state-owned refiner plans to spend 12 billion Thai baht (£247m) to expand solar power projects, Bloomberg reports.
Bangchak Petroleum's expansion will help boost its earnings before interest, taxes, depreciation and amortisation to 2.2billion baht after the three projects start operating, from an estimated 115 million baht this year.
According to Bloomberg, the first plant, which has a capacity of 38 MW, started supplying electricity to the national grid on 5 August. Construction of the second plant, which has a planned capacity of 32 MW , will start around the end of the year. The third project, which has a capacity of 48 MW, will be built next year.
