One of Southeast Asia’s biggest generators of renewable electricity, Thailand’s CK Power, is set to double in size over the next three years after announcing plans to add 2.8GW of new renewable electricity generation, including a ten-fold increase in its solar capacity.
Thailand’s CK Power (CKP) is set to double in size over the next three years after committing to add 2.8GW of new renewables-based generating capacity, including a ten-fold increase in its solar-based capacity to more than 330MW.
CKP is one of the region’s largest generators of renewable electricity, and yesterday reported record-high revenues for 2021, driven largely by the sales of electricity from its Nam Mgum 2 Hydroelectric Power Plant. Strong results have led the company to earmark $111 million for renewables investment in 2022.
CKP aims to invest the bulk of that war chest outside of Thailand and forecasts that within five years the company’s electricity generation will be entirely renewable.
The Nam Ngum 2 Hydroelectric Power Plant is the primary contributor to CK Power’s 30.1% 2021 revenue increase on 2020. Image: CK Power
“There are massive new opportunities arising from the disruptive global shift to renewables-based electricity,” says CKP managing director Thanawat Trisivavet. “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 Thailand’s drive towards decarbonization to tackle global warming.”
Thanawat Trivisvavet, Managing Director, CK Power PCL Image: CK Power
“We will increase our installed capacity to be 4,800MW by 2024 through six new electricity generating facilities in Thailand and the region,” continued Trivisvavet. “All of our new installed capacity will be based on renewables, including solar power, hydropower and wind power.”
Along with the ten-fold increase in solar, CKP is also planning to double its wind capacity, ensuring its supply is ready for the projected doubling of energy demand in Southeast Asia over the next 20 years.
Currently, CKP is currently linked to 29MW of installed solar capacity.