SET-listed Scan Inter (SCN), a compressed natural gas seller and clean power operator, expects to close two new asset acquisition deals, including a rooftop solar panel business, early next year.
SCN also plans to list its subsidiary on the stock market to reduce costs in the solar rooftop business.
Littee Kitpipit, chief executive of SCN, said the company aims to buy a 4-megawatt rooftop solar panel business and a new business it wants to diversify into to earn new revenue.
The two new assets are in operation, ready to generate revenue for SCN once the deals are completed.
Two years ago, the company partnered with a local rooftop solar panel company to set up Scan Advance Power to operate a solar rooftop business.
The new firm, which has sold 20MW of solar power under private power purchase agreements, aims to increase sales to 110MW by 2025 after it lists on the Stock Exchange of Thailand.
The process to start the initial public offering is scheduled for 2024.
Mr Littee said the listing will enable Scan Advance Power to better control its costs, which will be lower than those of its rivals.
"Solar roof businesses in Thailand are facing a fierce price war as solar power becomes more popular, with the new record-high power tariff leading to high electricity bills," he said.
SCN expects its total revenue to grow significantly by 20% next year, driven by the rooftop solar panel business, a solar farm in Myanmar named Minbu, and medical-grade products made of hemp.
The 50MW solar farm Minbu acquired by SCN in 2020 is operated by its subsidiary Green Earth Power Thailand Co.
The company also earns revenue from selling compressed natural gas to city buses operated by the Bangkok Mass Transit Authority and providing a maintenance service.
SCN plans to start production of hemp-derived products in the fourth quarter this year through Pharmaceutical Plant Co, in which SCN owns a 41% share.
For the compressed natural gas business, Mr Littee expects the company to enjoy continual growth thanks to purchase contracts with gas buyers.
SCN increased sales of compressed natural gas to 5,000 metric million British thermal units per day (MMBTU) this year, up from 500 MMBTU last year, after co-establishing Thai-Japan Gas Network.
