CKPower Takes Significant Steps Towards Global Renewable Energy Adoption with REC Expansion

CKPower Expands Its Reach in Renewable Energy Certificates

CK Power Public Company Limited (SET: CKP), recognized as one of the prominent producers of electricity generated from renewable sources in Southeast Asia, has announced a significant expansion in its operations related to Renewable Energy Certificates (RECs). This strategic move is aligned with the global push toward increased clean energy adoption and solidifying sustainability efforts across various sectors.

In order to facilitate the transition to cleaner energy sources, CKPower is leveraging Renewable Energy Certificates as an essential tool for businesses aiming to track and offset their carbon emissions. This initiative not only showcases the corporation's commitment to environmental responsibility but also enables clients to meet their science-based emissions reduction targets effectively.

According to Mr. Thanawat Trivisvavet, the Managing Director of CK Power, RECs are more than just a marketing tool; they are critical for businesses that seek to demonstrate their commitment to renewable energy use. Since entering the REC market in 2022, through its subsidiary, Bangkhenchai Company Limited (BKC), CKPower has already registered numerous renewable energy projects in collaboration with Innopower Company Limited, a subsidiary of the Electricity Generating Authority of Thailand (EGAT). This partnership has allowed CKPower to deliver over 39,660.46 RECs to clients who are committed to decarbonizing their operations.

Furthermore, CKPower has made strides in enhancing its REC initiatives with projects derived from its Xayaburi Power Company Limited hydropower plant located in Laos. By forming a new agreement with Mekha V Company Limited (part of PTT Public Company Limited), CKPower aims to assess how to integrate RECs into their operations via the ReAcc platform. This not only supports multinational corporations in embedding clean energy practices into their supply chains but also promotes sustainable energy solutions on an international scale.

To complement its REC endeavors, CKPower is actively pursuing solar energy projects that encompass a total of 13 megawatts (MW) in partnership with Bangkok Expressway and Metro Public Company Limited (BEM). The first of these solar installations is anticipated to commence commercial operations in early 2025. In addition, BKC has entered into a Power Purchase Agreement (PPA) with the Provincial Electricity Authority (PEA) for a 6 MW solar project set to become operational by 2027.

With a goal to achieve over 95% of its energy portfolio generated from renewable sources by 2043, CKPower has also set ambitious targets for reducing greenhouse gas emissions to net-zero by 2050. This will be achieved through a combination of innovative technology, improved energy efficiency, and fostering a culture of sustainability throughout its operations and supply chain.

Mr. Thanawat emphasized, "Renewable energy is the bedrock of a sustainable future. Through our REC initiatives and clean energy projects, we strive to empower businesses globally to meet their sustainability commitments, while simultaneously nurturing a resilient energy ecosystem."

As CKPower forges ahead in its mission to bolster renewable energy adoption, its efforts resonate not only within Thailand but across the globe, laying the groundwork for a cleaner and sustainable energy future. This robust expansion in REC operations signifies how essential partnerships and strategic initiatives can propel both corporations and the environment toward a more sustainable path.