Reading Time: 2 minutes
BCPG to increase the renewables power generation capacity to 2 GWs within 2026 to achieve the target of carbon neutrality by 2030. The company raised its capital spending of five-year from 65 billion baht to 95 billion baht (an increase of 46%).
BCPG was created as part of the renewable power business group when the Bangchak Corporation Public Company Limited and its subsidiaries were restructured. BCPG is a vital part of the implementation of the Bangchak Corporation Plc. group of companies’ renewable power business.
Niwat Adirek, President and Chief Executive of BCPG said, “We revised up capex [capital expenditure] because we see the potential to expand the capacity under a strategy to maintain our status as a leading renewable energy firm in the region.”
BCPG focuses on the development of renewable energy not just in Thailand but also in Laos and Tawan. Laos claims to be the “battery of Asia” whereas Taiwan wishes to use clean energy for its economy.
BCPG will issue a part of capex for developing 3 solar power projects with a capacity of 469 MW in Taiwan. The construction of these solar projects is expected to begin between 2022 and 2024.
In the long run, BCPG is planning to raise its production capacity of renewable energy to 1 GW in Taiwan as the government is transitioning to clean energy sources.
“We are running our business there at a lightning speed,” added Mr. Niwat. Recently, BCPG sold 33% of its share to Springhead Holdings Co for US$440 million in Star Energy Group Pte.
The company also saw an increase in its revenue from 4.23 billion baht in 2020 to 4.67 billion baht in 2021, an increase of 10.4%. The net profit also rose from 1.95 billion baht to 2.28 billion baht, a rise of 16.6%.