Energy Absolute Public Company Limited (EA) has announced that the company has increased its investment budget in 2020 from 7,400 million baht to 12,388 million baht after the investment for 19% stake in Land Prosperity Holding Company Limited to support EA’s investment in the industrial estate and battery factories in Chachoengsao district.
The main contributor for EA’s 2020 revenue would still be the renewable energy business at 65%. The biodiesel business expected to contribute 29%, green diesel and Phase change material (PCM) at 4%, electric vehicles (EV) business at 1%, while charging stations and electric ferries (E-Ferry) would contribute 1% to EA’s revenue.
The company asserted that the coronavirus outbreak has a slight effect on EA’s business, especially its electricity production and sales that can perform its normal operation under safety measures.
EA’s E-Ferry profit is expected to be complete and start its operation by the fourth quarter this year, while all 42 ferries will be in operation in the first quarter of 2021 as scheduled.
As for the EV business, the vehicle transfer had been postponed to the fourth quarter of 2020 due to the impact of coronavirus on EA’s customers. EA expected the transfer of 5,000 EV within 4Q21.