Thepparat Theppitak, President of EGCO Group Public Company Limited (EGCO), revealed that The company will continue to expand the electricity generation capacity in 2023 by an additional 1,000 megawatts (MWe) by focusing on countries where the company already has a business base. which will continue to focus on investing in traditional fuel power plants and renewable energy on an ongoing basis
“To invest in renewable energy power plants The company is preparing to apply for government renewable energy projects. There is interest in participating in the competition of at least 1,000 MW in the field of solar energy and energy storage battery systems, etc.”
Mr. said Thepparat that the company is still seeking investment in alternative energy. Or fuel cells are expected to see more clearly next year. because of the view that a good future In particular, hydrogen used to produce electricity supports the conversion of energy from conventional energy. (Conventional) to clean energy (Green Energy) and have clean energy continuously. It also has more potential than solar energy + batteries. by such an investment model Initially, it will invest jointly with potential partners in the field of hydrogen, such as Saudi Arabia.
At the same time, existing assets and power plants will be managed with maximum efficiency and minimum carbon emissions. By developing technologies that help reduce carbon emissions and their use in power plants, such as carbon capture and storage technology (CCS) and studies on the use of ammonia as a fuel mixture to reduce carbon emissions etc.
In 2022, the company has expanded its installed capacity by 543 megawatts of the target of 1,000 megawatts, which is confident that it will reach the goal 215 megawatts and 590 megawatts of pipelines are already being developed, respectively that.
2023 Plan The company expects the project to be fully implemented in the first quarter of 2023, the North East oil pipeline expansion project (TPN), the phased commercial electricity supply (COD), plant Yunlin wind power, including The investment in the Apex Clean Energy (APEX) project (EGCO holds a 17.46% stake) will help boost the Company’s revenue and renewable energy installed capacity.
As of September 2022, APEX has a total of 50,152 MW of clean energy power projects under development, expected to gradually COD in Q4/22, 2 projects with a total capacity of 524 MW, in 2023 Total COD of 6 projects with a total capacity of 958 megawatts and in 2024 there will be COD of 14 projects with a total capacity of 2,578 megawatts.
For the investment budget in the year 2022, it is set at 30,000 million baht, about 10,829 million baht has been spent. The company is trying to use it to the full amount set, while in 2023 it will also invest 30,000 million baht. to support continued business expansion
Currently, EGCO has 34 power plants with a total capacity of 6,377 MW, of which natural gas power is about 3,597 MW or 57% of the total capacity, renewable energy is 1,424 MW or accounts for 24% and energy from coal 1,356 megawatts or 21 %, including investments in 8 countries: the United States, Indonesia, Australia, Lao PDR, Taiwan, South Korea, the Philippines and Thailand.