SPCG Showcases Business Strengths, Pushes into Residential Solar Rooftop Market in Line with Government Policy
SPCG reported Q1 2025 revenue of 419.9 million baht with strong profits, and is now expanding into residential solar rooftop systems through its subsidiary, capitalizing on government tax incentives and favorable electricity buyback rates.
SPCG reports Q1/2025 operating results with total revenue of 419.9 million baht, net profit of 118.4 million baht, and EBITDA of 302.4 million baht, reflecting a strong business foundation and stable cash flow. Although the company's solar farm projects have concluded their government subsidy period for electricity purchase prices (Adder), SPCG continues to sell electricity at wholesale rates, which still generate efficient and sustainable returns.
The company has demonstrated the success of precise investment planning over the past decade, putting it in a strong financial position to redirect cash flows from existing projects toward aggressive expansion into new business areas. The solar power generation and sales business across 36 domestic projects (36 SPVs) remains the core revenue driver, with Q1/2025 showing increased energy output. Through upgraded management strategies emphasizing efficient maintenance and cost control to maximize power plant capacity, the company targets 373.3 million units of electricity production this year, having exceeded the P50 projection by 20% in the first quarter.
Looking ahead, SPCG sees significant growth opportunities in the residential solar rooftop market, bolstered by favorable government policies including personal income tax deductions of up to 200,000 baht and electricity buyback rates of 2.20 baht per unit. The company is currently preparing investment plans through Solar Power Roof (SPR), its wholly-owned subsidiary, and has already begun pilot installations for select customers.
Despite global economic volatility and supply chain challenges for critical equipment such as solar panels and inverters, SPCG has prepared cost management and equipment reserve strategies in advance. The company plans to announce its formal business plan shortly. Regarding market competition, SPCG emphasizes quality and safety over price through customized system designs to achieve maximum energy output and long-term value. The company positions its brand as a trustworthy expert in engineering, safety standards, and after-sales service—core values that differentiate it in the market and support sustainable growth.
