SSP (Sermsang Power Corporation) has announced the completion of the sale of its "Yamaga" solar power plant project in Japan, with an installed capacity of 34.5 megawatts. The company will recognize a special gain in the third quarter of 2026, estimated by Asia Plus Securities at around 500 million baht. The proceeds will help strengthen liquidity, reduce debt, and open the way for new investments both domestically and internationally, particularly in the Philippines under the GEAP project and community solar in Thailand. Meanwhile, in the second half of the year, the company is supported by the summer solar season in Japan, the wind season in Thailand and Vietnam, as well as full-year revenue recognition from the LEO 2 solar farm and the repowering of the SPN power plant. Additionally, it is preparing for the commercial operation date of two community waste-to-energy power plants with a combined capacity of 19.8 megawatts in the fourth quarter of 2026, a first for SSP's portfolio. For the first half of 2026, net profit was 325.1 million baht, up 44.8%, and revenue from electricity sales was 1,572.1 million baht, up 5.9%. The company targets an installed capacity of 720 megawatts by 2027 and 1,000 megawatts by 2032. Asia Plus sets a fair price of 5.60 baht per share and notes that the stock is trading below its book value of 5.78 baht, with an expected dividend yield of around 4-5% per year.
Sermsang Power Corporation Public Company LimitedSSP completes sale of Yamaga solar plant, booking special gain of ~500 million baht, strengthening liquidity and reducing debt.
Asia Plus Group Holdings PCL
