SCG Sets Ambitious Solar Power Expansion Plans
Siam Cement Group is expanding its solar power business under the Onnex brand, targeting 1,000 megawatts in capacity by 2029 due to decreasing technology costs. Current capacity is 200 megawatts with projects underway for an additional 400 to 500 megawatts including solar farms and carports. SCG is focusing on strengthening its position in Thailand amid rising domestic demand before international expansion.
Siam Cement Group (SCG) is shifting its focus to the solar power business under its Onnex brand, aiming to increase its power generation capacity to 1,000 megawatts between 2025 and 2029 due to decreasing solar energy technology costs.
Currently, SCG's capacity is 200MW, including electricity from a solar farm in Saraburi.
SCG has new solar projects in the pipeline, totaling 400-500MW, which include solar farms, floating solar farms, and carports.
The decline in solar-related technology costs is also driving individuals to install rooftop solar panels to save on electricity bills.
Households typically install 7-10KW panels costing between 300,000 and 500,000 baht.
Onnex's internal rate of return has reached 34%.
SCG plans to strengthen its business in Thailand before expanding overseas to countries like the Philippines.
The domestic demand for solar energy is high, driven by investments in data centers and cloud services demanding clean energy.
Currently, SCG's capacity is 200MW, including electricity from a solar farm in Saraburi.
SCG has new solar projects in the pipeline, totaling 400-500MW, which include solar farms, floating solar farms, and carports.
The decline in solar-related technology costs is also driving individuals to install rooftop solar panels to save on electricity bills.
Households typically install 7-10KW panels costing between 300,000 and 500,000 baht.
Onnex's internal rate of return has reached 34%.
SCG plans to strengthen its business in Thailand before expanding overseas to countries like the Philippines.
The domestic demand for solar energy is high, driven by investments in data centers and cloud services demanding clean energy.
