| Work Detail |
The Electricity Generating Authority of Thailand (EGAT) has announced that its subsidiary, EGCO Group, plans to invest THB 30 billion (approximately USD 836 million) in 2024 to expand its electricity generation capacity by 1,000 MW. The investment will primarily focus on accelerating renewable energy projects and strengthening cross-border investments, including the full commissioning of Taiwan’s Yunlin Wind Farm this year. EGCO Group’s renewable energy portfolio currently accounts for 21% of its total power generation, amounting to 1,440 MW. The company is actively developing biomass, solar, hydro, onshore and offshore wind, as well as battery and energy storage solutions. CEO Thepparat Theppitak confirmed that EGCO has no plans to expand coal-fired power generation, instead aiming to increase the share of renewable energy to 30% by 2030. The company is also exploring new investment opportunities across Laos, the Philippines, Indonesia, Taiwan, South Korea, Australia, and the United States. The Yunlin Wind Farm in Taiwan, with a total installed capacity of 640 MW, is expected to become fully operational this year. Construction delays due to the COVID-19 pandemic and financial restructuring in August 2023 have resulted in only 33 of the 80 planned wind turbines being operational. EGCO is now working to expedite commissioning to meet its target timeline and avoid potential penalties. As part of its long-term sustainability strategy, EGCO is also advancing its efforts in hydrogen energy development. On February 12, the company signed a memorandum of understanding with Bangkok Industrial Gas (BIG) and Thailand Post to conduct feasibility studies on the use of hydrogen in the logistics sector. This initiative aligns with EGCO’s commitment to achieving carbon neutrality by 2050. Addressing broader industry trends, Theppitak noted that while Thailand currently has an electricity surplus, the growing adoption of electric vehicles is expected to drive higher power demand. He projected that the country may face a potential electricity shortage within the next two to three years, highlighting the importance of continued investment in alternative energy sources. EGCO Group’s latest investment initiatives reinforce its strategic push towards a cleaner, more sustainable energy future, as it positions itself to play a key role in Thailand’s transition to renewable power. |
