Thailand Energy: CKPower Expands Renewable Energy Investments with RECs

0
426
Representational image. Credit: Canva

As the transition from fossil fuels to clean energy accelerates, Renewable Energy Certificates (RECs) have emerged as a key mechanism for organizations to demonstrate their commitment to net-zero emissions. In Thailand, the REC market is experiencing significant growth, driven by both public and private sector initiatives.

Leading this shift, CK Power Public Company Limited (CKPower) (SET: CKP) continues to expand its renewable energy portfolio and green finance initiatives. The company has actively participated in the REC trading market since 2022 and is preparing to launch four solar power projects with a combined capacity of 13 MW by 2027, reinforcing Thailandโ€™s clean energy goals.

Commitment to Renewable Energy and Sustainability

CKPower Managing Director Thanawat Trivisvavet emphasized the companyโ€™s long-term sustainability strategy, highlighting its efforts to promote renewable energy adoption and reduce greenhouse gas emissions.

โ€œThrough our five-year sustainability strategy (2022โ€“2026), we have expanded our renewable energy initiatives both domestically and internationally. Our subsidiary, Bangkhenchai Company Limited (BKC), has been registered as a renewable power plant, and we have delivered 39,660.46 RECs to Innopower Company Limited, a subsidiary of EGAT,โ€ he stated.

Also Read  Adani Green Energy Forms New Subsidiary AE7L To Strengthen Renewable Expansion

In mid-2024, CKPower signed an agreement with Mekha V Company Limited, a subsidiary of PTT Public Company Limited, to explore the use of RECs from Xayaburi Power Company Limited (XPCL), a run-of-river hydropower plant in Lao PDR, on the ReAcc platform. This initiative aims to support the industrial sectorโ€™s energy transition and enhance renewable energy integration across CKPowerโ€™s supply chains.

Expanding Solar and Renewable Energy Projects

CKPower is also developing three solar power projects in collaboration with Bangkok Expressway and Metro Public Company Limited (BEM), with a total installed capacity of 6.95 MW. The first project is expected to commence commercial operations in the first half of 2025.

Additionally, CKPowerโ€™s subsidiary BKC has signed a Power Purchase Agreement (PPA) under the Feed-in Tariff (FiT) program with the Provincial Electricity Authority (PEA) for a 6 MW renewable energy project, slated to begin commercial operations by 2027 under a 25-year contract.

โ€œThese initiatives align with our C-K-P strategy, which focuses on resilience, innovation, and sustainability. CKPower recently earned an AAA rating in the 2024 SET ESG Ratings, marking its fifth consecutive year as a sustainable stock in the Resources sector,โ€ Thanawat added.

Also Read  Choma Set To Lead Zambiaโ€™s Energy Transition With New Solar Plant And Transmission Line Projects

Path to Net-Zero by 2050

Looking ahead, CKPower aims to increase its renewable energy productionโ€”including hydropower and solar powerโ€”to over 95% by 2043 while advancing energy efficiency innovations and conservation efforts. The company has set a goal of achieving net-zero greenhouse gas emissions by 2050.

โ€œRenewable energy is the cornerstone of the energy transition. CKPower remains dedicated to fostering clean energy production and adoption, contributing to a sustainable energy future for Thailand and beyond,โ€ Thanawat concluded.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.