WHAUP Signals for Strong Performance in 2H, Expecting to Exceed 600MW Target by Year End

WHA Utilities & Power Public Company Limited (WHAUP) stated that the inclusion in the SET100 and SETHD indices in the second half of 2020 reaffirms the company’s strength in utilities business with innovations in water management and power business.

CEO “Dr. Niphon Bundechanan” signals that the company’s performance will be better in the second half, given rising water service demand and the electricity-generating capacity in terms of shareholding equity will exceed its target of 600 megawatt by the year-end.

 

Dr. Niphon Bundechanan, Chief Executive Officer of WHAUP, is glad to acknowledge that the Stock Exchange of Thailand selected WHAUP as one of the stocks in the calculation of the SET100 and SETHD indices in the second half of 2020 (1 July – 31 December 2020), reflecting the company’s determination to develop new technologies for water management solutions and energy services.

Presently, the company will continue to engage in technology development for water management solutions in Thailand and Vietnam. It will also provide various water resources, including reclaimed water and demineralized water to help solve the drought problems this year and build sustainability for water consumption in the medium to long term, even though the country has faced the COVID-19 pandemic and droughts.

For the investment in two water companies in Vietnam since last year, WHAUP will gradually realize full-year operating results in 2020. It will look for investment opportunities in new utilities projects to increase its growth potential and sustainability in the long term.

The CEO of WHAUP noted that the company has plans to consistently develop its renewable energy business, expecting to sign additional solar rooftop contracts with new clients. Currently, WHAUP’s electricity-generation capacity in terms of shareholding equity stands at 597 MW, exceeding its target set earlier this year at 591 MW. It projects that the electricity-generating capacity in terms of shareholding equity will reach 600 MW at the end of this year.

“The company is confident that WHAUP’s business overview in the second half of 2020 will improve significantly from the first half due mainly to the growth of water sales together with the providing of new value-added water resources and energy services, especially solar rooftops. So far, the electricity-generating capacity in terms of shareholding equity has already exceeded its earlier target set at the beginning of this year and will reach 600 MW by the year-end,” Dr. Niphon concluded.