CK Power eyes 2,800MW additional renewables capacity by 2024
The company wants to more than double its size in the next three years.
Thailand-based CK Power is planning to add 2,800 megawatts (MW) of renewables capacity, bringing its total 4,800 by 2024 in the Southeast Asian region.
"All of our new installed capacity will be based on renewables, including solar power, hydropower, and wind power,” Thanawat Trivisvavet, Managing Director, CK Power PLC, said.
"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.
In the next five years, Trivisvavet said CK Power will increase its solar-based electricity generating capacity to 330MW, which is more than ten-fold its current capacity.
For its wind-based electricity, the company plans to add twice as much, or around 700MW. This will in effect bring CK Power’s renewable capacity to 95%.
According to CK Power, the demand for energy in Southeast Asia 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.
CK Power is listed on the Stock Exchange of Thailand and is included in the SET 100 Index, the SET Thailand Sustainability Investment Index, and the SETCLMV Exposure Index, and carries an A/Stable TRIS rating.