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Friday, March 29, 2024

Clover anticipates 50% revenue hike

A biomass power plant operated by Clover Power in Phitsanulok province.

SET-listed Clover Power Plc, a renewable power plant operator and constructor, expects to see revenue soar by 50% this year after it diversified into supplying renewable fuels, especially wood pellets which are in high demand in Japan.

Saithsiri Saksitthisereekul, chief executive of Clover Power, attributed the growth to the prices of wood pellets which rose by 30% at the end of last year, driven by growing demand for this type of biomass from power generation businesses in Japan.

The company became a renewable fuel suppler after it last year acquired a 60% share in Vietnam-based DKC Energy Co, a local wood pellet producer, from Thien Minh Duc Group Joint…

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