PR94648

BANGKOK, Feb. 23, 2022 /PRNewswire=KYODO JBN/ --

To add 2,800 MW of new, renewables-based electricity generating capacity

- Aims to invest outside Thailand in three new renewables-based ventures

- Supports drive to reduce carbon footprint in fight against global warming

- Expects almost all capacity to be renewables-based within only 5 years

"There are massive new opportunities arising from the disruptive global shift

to renewables-based electricity. Our position as one of the region's largest

renewables-based electricity producers enables us to leverage these emerging

opportunities well, and, at the same time, contribute significantly to the

drive towards de-carbonization to tackle global warming."

Mr. Thanawat Trivisvavet, Managing Director, CK Power PLC

CK Power Public Company Limited (CKP), SET: CKP, one of the region's largest

producers of renewables-based electricity, recently, announced that it plans to

more than double in size in the next three years, supported by the global shift

to renewables-based electricity, and add around 2,800 megawatts of capacity.

Mr. Thanawat Trivisvavet, Managing Director, CK Power PLC, said, "We will

increase our installed capacity to 4,800 megawatts by 2024 through six new

electricity generating facilities in Thailand and the region. All of our new

installed capacity will be based on renewables, including solar power, hydro

power and wind power."

"As a part of our rapid growth plan, we aim to enter into three new ventures in

two countries outside of Thailand, and these, too, will be based on

renewables," he said.

According to Mr. Trivisvavet, within five years, CK Power PLC will increase its

solar-based electricity generating capacity more than ten-fold to 330

megawatts, and, in the same period, add twice as much wind-based electricity

generating capacity of 700 megawatts, resulting in 95% of the company's total

electricity generating capacity being based on renewables.

He said, "There are massive new opportunities arising from the global shift to

renewables-based electricity. The recent COP 26 UN Climate Change Conference in

Glasgow, United Kingdom has important and positive implications for our

long-term business strategies. Our extensive experience in renewables-based

electricity generation positions us well to leverage these emerging

opportunities. At the same time, by being an electricity producer with one of

the lowest carbon footprints, we can also be a significant contributor to

tackle global warming."

The demand for energy in ASEAN is expected to double in the next 20 years, and

the share of renewables-based electricity generation is forecast at around 20%

of total electricity generation. By the end of the next decade, the transport

sector is forecast to become the largest consumer of energy in ASEAN, even

ahead of the industrial sector.

Among other trends that Mr. Trivisvavet cited as lifting the demand for

renewables-based electricity is that governments and large companies around the

world increasingly view the acceleration of the transition to renewable energy

as a policy tool that can boost national competitiveness, in addition to

reducing greenhouse gas emissions.

Mr. Trivisvavet added that CK Power PLC is financially well positioned for the

future with a low Net Interest-Bearing Debt-to-Equity ratio of only 0.67, and

that it has a strong balance sheet with steady cashflows from long-term power

purchase agreements with the Electricity Generating Authority of Thailand.

CK Power PLC (CKP) is listed on the Stock Exchange of Thailand (SET) and is

included in the SET 100 Index, the SET Thailand Sustainability Investment

(THSI) Index, and the SETCLMV Exposure Index, and carries an A/Stable TRIS

rating.

SOURCE: CK Power Public Company Limited (CKP)

Image Attachments Links:

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   Caption: Mr. Thanawat Trivisvavet, Managing Director, CK Power Public Company Limited

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   Caption: Solar power plant of CK Power Public Company Limited