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CKPower: Leading Thailand’s drive towards clean energy

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CKPower believes in and practices the model called the 'Sustainability Management Process'

As per the International Renewable Energy Agency (IRENA), Southeast Asian countries have great potential of meeting their growing energy demand with renewables and cut 75% of their energy-related CO2 emissions by 2050.

International Renewable Energy Agency (IRENA) recently released the second edition of the ‘Renewable Energy Outlook for ASEAN: Towards a Regional Energy Transition’ during the ASEAN Energy Ministerial, and the report shows that almost doubling renewable power by 2030 creates significant regional business and investment opportunities for the region.

ASEAN is home to some of the youngest coal power plants in the world. Despite that, the region has taken a lead, in terms of setting net-zero emissions targets by around mid-century. IRENA’s outlook identifies ASEAN’s energy transition pathways through renewables, electrification, and emerging technologies such as hydrogen and batteries.

Amid the backdrop of this outlook, CK Power Public Company Limited (CKPower), which is a leading renewable energy producer in the ASEAN region, becomes a crucial player in realising the net-zero emissions targets.

The Thailand-based company has committed itself to the usage of solar, hydro and wind power for almost all of its electricity production by 2024. Presently, the company invests in electricity production and distribution in Thailand and the Lao PDR, with 88% from hydroelectric power plants, 1% from solar power plants and 11% from cogeneration power plants.

CKPower, which was founded by CH. Karnchang Public Company Limited Group (“CH. Karnchang Group”), registered its market incorporation on June 8, 2011. It came up with a prime goal of becoming the centre of CH. Karnchang Group’s focus on investment in the business of electricity production and distribution.

The company registered its conversion into a public entity in 2013, and its ordinary shares were listed as listed securities, and started trading on the Stock Exchange of Thailand in July of that year. In 2015, the Company registered its capital increase to Baht 9,240 Million. At present, the Company’s registered and paid-up capital amounts to Baht 8,129 Million.

The installed capacities of hydropower, cogeneration power and solar power under the belt of CKPower currently stand at 1900 MW, 238 MW and 29 MW respectively.

The major shareholders of the company include CH. Karnchang Public Company Limited (30%), TTW Public Company Limited (24.98%) and Bangkok Expressway and Metro Public Company Limited (16.82%).

The company is planning to increase the proportion of renewables-based electricity to 95% in the coming days, as part of its commitment to contribute to the global goal of achieving Net Zero GHG Emissions by 2050 through the development of clean energy innovations. In 2022, CKPower’s renewables-based power plants produced almost 10,000 GWh of clean electricity, reducing greenhouse gas emissions by approximately five million CO2-equivalent tonnes per year.

CKPower believes in and practices the model called the ‘Sustainability Management Process’. It fosters a culture of environmental consciousness, encouraging employee participation in energy conservation and greenhouse gas reduction projects.

“CKPower recognizes the importance of operating a sustainable electricity-producing business without creating impacts on the environment, natural resources, and communities or seeking ways to minimize such impacts. As such, it focuses on investing in clean and renewable energy-based power projects that cause minimal pollution and utilize resources efficiently in production, such as hydroelectric, solar, and combined cycle power plants. CKPower also selects cutting-edge, eco-friendly technology to achieve balance between business and environmental protection in accordance with sustainable development guidelines,” the company stated on its website.

CKPower’s environmental management guidelines focus on investing in clean and renewable energy projects, managing resources to maximize benefits without causing environmental impact, developing knowledge, innovation, and technologies to monitor environmental quality in compliance with legal requirements in pursuit of international standards and co-developing resource management know-how with stakeholders for sustainable development and conservation in communities.

The company also believes in having a strong commitment to social and community care, leveraging its expertise in electrical engineering to create sustainable value for society while improving the quality of life in Thailand and the Lao PDR, thus upholding its vision of “Renewable Electricity for a Sustainable Future”.

CKPower’s associate, Xayaburi Power Co., Ltd., was recognized with the prestigious global ‘Best Green Bond Hydropower Plant Framework’ at the International Finance Awards 2022, for the highly successful launch of Thailand’s first-ever hydro green bond.

In 2022, while generating clean electricity, the Xayaburi Hydroelectric Power Plant played a significant role in environmental conservation by reducing greenhouse gas emissions by approximately 4.1 million tonnes, thereby contributing towards a cleaner and more sustainable future.

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