Solar panels are displayed for interested buyers at a fair. Sena is capturing new demand for solar panels from property owners, especially via a government scheme. (Photo by Somchai Poomlard)

SET-listed Sena Development Plc is upbeat about its solar power business for residential projects after seeing growth from new installation of solar panels and government support for solar rooftops.

Sena started its solar power business in 2016 with Sena Solar Energy Co (SSE), of which it has wholly-owned management.

SSE aims to set up solar farms and install solar rooftops on properties and buildings.

Sena started with two solar farms under the operation of SET-listed B.Grimm Power Plc in Saraburi and Nakhon Pathom with a combined capacity of 46.5 megawatts.

Kessara Thanyalakpark, deputy chief executive of Sena, said revenue for SSE this year is expected to reach 600 million baht, or 9% of Sena's total.

Last year, SSE posted 380 million baht in revenue.

"Many residential projects and commercial buildings want to install solar rooftops, which will allow solar power sales to grow by 15-20% the next couple of years," she said.

Ms Kessara said Sena sees huge potential from the solar rooftop programme for households after the latest version of the national power development plan 2018-37 set capacity from household solar rooftops at 10,000MW.

The scheme opened the first batch for enrolment at 100MW.

As of Tuesday, 298 property owners registered to install panels using their own investment, allowing them to sell electricity to the state grid with a combined capacity of 1.48MW.

The buy-back tariff to the state grid is 1.68 baht per kilowatt-hour (unit) under a 10-year purchase contract.

Each household has to operate its rooftop power generation creating 2-3 kilowatts.

Sena announced it was installing solar rooftops on seven new housing projects that launched presales six months ago.

Initially, Sena plans to install solar panels on 170 housing units and enrol them with the state-run Metropolitan Electricity Authority to sell electricity to the grid in the second half this year.

"Homeowners will be encouraged to join this scheme, not only to sell electricity to the state grid, but also to cut their power bills," said Ms Kessara.

"The tariff for traditional power consumption is expected to increase from 4.2 baht per unit, compared to 3 baht a few years ago."

She said the residential properties of freelance workers and the elderly would be potential target groups for the installation of solar rooftops because they spend time at home during the day.

The company also plans to approach commercial buildings, warehouses and factories about using solar rooftops.

They will be encouraged to sell electricity from solar under a private power purchase agreement or an off-grid basis.

In 2019, SSE aims to develop solar rooftops for commercial buildings at a combined capacity of 30MW.

In a bid to promote electric vehicles, SSE is planning to construct charging stations for the eco-friendly cars at Sena residential projects with power stemming from solar panels.