CK Power Public Company Limited (CKPower) (SET Symbol: CKP), one of the region's largest producers of electricity from renewables with one of the lowest carbon footprints, continues to expand its green finance investment opportunities through the sale of Renewable Energy Certificates (RECs). The company is also preparing to commence commercial operations (COD) of four solar power projects with a combined capacity of 13 MW by 2027, supporting energy transition and bolstering a sustainable energy system in Thailand.
Mr. Thanawat Trivisvavet, Managing Director of CKPower, stated: "Aligned with our five-year (2022-2026) sustainability strategy, CKPower has expanded its renewable energy business domestically and internationally through the sale of RECs in collaboration with Innopower Company Limited (a subsidiary of EGAT). Since 2022, we have registered Bangkhenchai Company Limited (BKC) as a renewable power plant in the REC trading platform. To date, CKPower has delivered 39,660.46 RECs to Innopower, contributing to the promotion of renewable energy usage and the reduction of greenhouse gas emissions in the long term."
He added, "In mid-2024, CKPower signed an agreement with Mekha V Company Limited (a subsidiary of PTT Public Company Limited) to explore the feasibility of utilizing RECs from Xayaburi Power Company Limited (XPCL), a run-of-river hydropower plant in the Lao PDR, on the ReAcc platform. This aims to support energy transition in the industrial sector and prepare for the adoption of renewable energy throughout our supply chains."
Regarding CKPower's solar power projects in collaboration with Bangkok Expressway and Metro Public Company Limited (BEM), the three projects, with a total installed capacity of 6.95 MW, are under construction. The first project is expected to commence commercial operations in the first half of 2025. CKPower also plans to explore further opportunities for integrating renewable energy into Thailand's expanding transportation systems. Additionally, 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, scheduled for COD by 2027 with a 25-year contract duration.
"These efforts align with CKPower's C-K-P strategy, emphasizing resilience in operations and aiming to expand opportunities in renewable energy to capture emerging business prospects. CKPower recently achieved the AAA level in the 2024 SET ESG Ratings, marking its fifth consecutive year as a sustainable stock in the Resources sector. Looking ahead, the company targets increasing renewable energy production, including hydropower and solar power, to over 95% by 2043. In parallel, CKPower is committed to innovation in energy efficiency and raising awareness about energy conservation throughout the value chain, aiming for net-zero greenhouse gas emissions by 2050."
"CKPower firmly believes that renewable energy is the cornerstone of energy transition. We are dedicated to supporting the production and adoption of clean energy to create a sustainable energy system and society for the long term," concluded Mr. Thanawat.
Source: CK Power