ACE's Q1/69 profit grew 39%, driven by solar power plants, and it continues to accumulate projects awaiting commercial operation.

ACE's Q1/69 profit grew 39%, driven by solar power plants and preparations for future commercial operation. Currently, 44 more projects are under development for future commissioning.

May 18, 2569 Mr. Thanachai Banditworabhum, Chief Executive Officer, Absolute Clean Energy Public Company Limited (ACE) ACE disclosed its Q1/2026 operating results, reporting revenue from sales and services of 1,591.6 million baht and a net profit of 314.4 million baht. This represents a 39.0% increase from Q1 2025 (226.1 million baht) and a 47.6% increase from Q4 2025 (212.9 million baht).

While net profit from normal activities in this period increased both compared to the same quarter of the previous year and the previous quarter.

This quarter's gross profit reached 254.1 million baht, an 11.7% increase from the 227.4 million baht recorded in Q1 2568 and a 5.6% increase from the 240.6 million baht recorded in Q4 2568. This was driven by significant growth in gross profit from solar power plants and lower financing costs.

Since the first quarter of 2026, ACE has shown positive progress in expanding its power plant business, starting with the commissioning of two more solar farm projects from its portfolio of 18 solar farm projects won in the Feed-in Tariff (FiT) renewable energy bidding process for 2022-2030.

Power purchase agreements (PPAs) totaling 13.29 megawatts have resulted in ACE currently being able to commence commercial operation (COD) for 15 solar farm projects. The remaining 3 projects are expected to be completed and commence COD by 2570.

Furthermore, ACE recently won the bid for the municipal waste-to-energy plant project in Sadao District, Songkhla Province. It is expected to have an installed capacity of 9.9 megawatts and a power purchase agreement (PPA) for 8.0 megawatts, expanding ACE's portfolio of waste-to-energy plants to a total of 10 projects nationwide.

Currently, ACE has 91 clean energy power plant projects with a total installed capacity of 757.52 megawatts. This includes 47 projects that are already commercially operational, with a total capacity of 466.94 megawatts, and 44 projects under development, with a total capacity of 290.58 megawatts.

It can be seen that the company still has many power plant projects that it has won bids for and are under development, preparing for future commercial operation (COD). The company also continues to look for opportunities to participate in bidding for additional new clean energy power plant projects. Further updates will be provided as progress is made.

Furthermore, ACE remains committed to achieving net-zero emissions by 2593, aligning with its business strategy of becoming a leading global clean energy company. This commitment aims to create a sustainable positive impact from within the organization to society and the environment.

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