Thai utility firm WHAUP invests 29 billion baht to meet rising water demand from data centres and expand its power business.
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| WHAUP aims for 35 billion baht revenue by 2030, expanding water supply to data centres and boosting renewable energy projects. Image: WHA |
Bangkok, Thailand — February 10, 2025:
WHA Utilities and Power (WHAUP), a subsidiary of Thailand's largest industrial land developer WHA Corp, aims to boost its revenue to 35 billion baht by 2030. The company plans to achieve this growth primarily by expanding its water supply services to the rapidly growing data centre sector, which requires vast amounts of water for cooling systems alongside substantial power for operations.
To meet this goal, WHAUP will invest 29 billion baht in business development projects from 2025 to 2030. The company also aims to maintain a strong earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin of over 50%.
In 2025, WHAUP will focus on expanding its services within WHA industrial estates, which are increasingly attracting tech-related businesses, particularly data centres. The company plans to meet the high demand for water in this sector by offering "value-added water," though further details on this offering were not disclosed.
In addition, WHAUP will seek new raw water sources to ensure reliable supply, and it will participate in government water and wastewater projects to expand beyond its industrial estates. For 2025, the company aims to sell 173 million cubic metres of water, a 4% increase from the previous year, with the majority of the water supplied to customers in Thailand and the rest exported to Vietnam.
On the energy side, WHAUP signed 76 new solar power contracts, increasing its total electricity purchase agreements to 965 megawatts by the end of 2024. The company is set to raise its electricity generation capacity to 1,185 megawatts this year as part of its renewable energy strategy.