Niwat Adirek, President and CEO of BCPG Public Company Limited, disclosed in the Company's press conference - "BCPG Way Forward 2024" – that within 2030, BCPG aimed to achieve three significant goals,

1. Returns: gaining net income of THB 3,000 million
2. Investments: operating 2,000 MW-green power plants
3. Sustainability: achieving carbon neutrality

To reach the goals, BCPG will apply 3G strategy,

1. G-Green Expanded: spreading the Company's green business territories in Asia Pacific, enhancing financial performance, and seeking for new S-Curve businesses
2. G-Green Innovation: developing innovation to serve sustainable use of energy and green living
3. G-Green Target: 0% of carbon emissions by 2050

In 2024, BCPG will start its engine of growth with the total investment fund of THB 14,000 million, THB 8,000 million (60% of investment) in the existing power projects, and THB 6,000 million (40% of investment) in new potential projects. According to the investments, BCPG expects to acquire an increase in EBITDA of 30% in the next year.

"In 2024, we will focus on investing in new renewable energy projects in the countries we've already had our footprint, where the governments implement clear policy on renewable energy. Moreover, we aim to grow our new S-Curve businesses such as Energy Storage System for electric motorcycles and industries, and Smart Energy Management System.", said Niwat.

To continuously expand its New S-Curve business - Utility-Scale Energy Storage System - in Thailand, BCPG is now applying the Energy Storage System for the electrical substations of Provincial Electricity Authority (PEA) in Na Haeo District, Loei Province, with the commercial operation date targeted by 2024. The Energy Storage System will leverage efficiency of transmission line in transferring electricity to remote areas.

Enhancing the existing projects with the investment of THB 8,000 million

• The 600-MW Monsoon Wind Project - the largest wind power project in ASEAN located in Sekong and Attapeu provinces in Laos: BCPG is now installing 133 wind turbines and expects to complete the project and start the commercial operation within 2025.
• The 469-MW solar power projects in Taiwan: the Company plans to start the construction by 2024 with the commercial operation date of the first phase of 58 MW by 2025 and the others within 2026.
• The 13.2-MW wind power project in Visayas Island, Nabas, the Philippines: BCPG has started the construction since the early of 2023 with the commercial operation date targeted by 2025.

The Smart City and Infrastructure

• The Smart District Cooling System, with the cooling load of 18,000 Refrigeration Tons (RT), in Samyan Smart City: BCPG has started the construction of the first phase (3,000 RT) with the commercial operation date targeted by 2025. The Company is now planning with Property Management of Chulalongkorn University (PMCU), Samyan Smart City's developer, to commence the construction of the next phase.
• The CMU Smart City Project at Chiang Mai University: BCPG has synergized cutting-edge technologies, namely, Smart Energy Management System, Energy Trading System, and Net Zero Building Management System with Solar Rooftop System installed for more than 160 buildings, with a total capacity of 12.86 MW, within the university. The Company also plans to install another 2.5 MW in 2024-2025, resulting in the total production capacity of 15 MW.

  The Company is also conducting research to customize energy management and trading systems to reduce greenhouse gas emissions for the university. In addition, the Energy Storage System (ESS) is now being equipped to strengthen efficiency of transmission line system within the university. After the completion of the ESS installation in January 2024, the project will be the role model of Smart Distribution Grid in the northern region of Thailand.

In 2023, BCPG expanded its energy business to the Unites States by investing THB 32,000 million in four combined-cycle gas turbine (CCGT) power plants; the Carroll County Energy LLC and the South Field Energy LLC in Ohio, and the Hamilton Liberty LLC and the Hamilton Patriot LLC in Pennsylvania, with total production capacity of 857 MW. The investment brought about steady contribution and was in line with BCPG's growth strategy to expand its core business – green power plants. The Company also hedged the risk of the investment to guarantee the revenue from electricity sales.

Recently, BCPG has invested in new solar power projects, with the total production capacity of 12.59 MW, in Thailand, which the revenue will be recognized within Q1/2024.

In addition, BCPG attaches value to the environment and society. In 2022, the Company could achieve Carbon Neutrality goal, as previously targeted in 2030. And to forward Thailand and the World to more sustainable society, BCPG also aims to be a net-zero organization within 2050 by implementing reforestation, using clean energy, and applying new carbon capture technologies.