National Power Supply PCL or NPS revealed the operating results for 2023, with the total revenue of 19,739 million Baht, increasing by 765 million Baht or 4% YoY. The profits from operations were reported at 1,727 million Baht, as a result of efficient planning and fuel procurement, leading to a reduction in cost of 2,291 million Baht. Meanwhile, the floating solar pontoons project that commenced operations in October 2023 also contributed to reducing costs in the fourth quarter by 42 million Baht. Furthermore, the Company also benefited from the improved Ft rate compared to the previous year.
To date, the Company’s current asset has exceeded the current liabilities by 2,070 million Baht, equivalent to the liquidity ratio of 1.34x, with the carried forward cash on hand of 850 million Baht, reflecting the Company’s liquidity and the ability to settle the current liabilities, including the debentures that will be due in 2024.
The first phase of the floating solar electricity generation project has a capacity of 60 MW and will be expanded to the second phase of 90 MW, which will be completed in the second quarter of 2024, totaling 150 MW. This is considered as the largest floating solar electricity generation project in CLMV, which is in line with the cost reduction scheme and clean energy plan. Moreover, NPS will be transferring clean energy and sustainability to the Company’s 200 EV trucks that will join the fleet in this year by using the electricity generated from floating solar pontoons in accordance with the Company’s intention on environment-friendly operations, reduced carbon dioxide emissions, advocacy for carbon neutrality, and reduced petroleum imports for Thailand.