Electricity Generating Public Company Limited or EGCO Group announced the “Carbon Neutral Goal” or a plan to achieve carbon neutral by 2050 in support of the global low-carbon society trend. As part of its mid-term goal, EGCO Group aims to reduce carbon emission intensity by 10% within 2030.

Mr. Thepparat Theppitak, EGCO Group’s President, said that electricity generating and energy business generates high emission that causes Global Warming and Climate Change. Believing that “a good start leads to a good result”, EGCO Group has been playing an active role in preventing and solving this issue from the first step of business process. The Company has integrated this concept in balancing the sources of fuel used in electricity generating that also results in energy security, and continuously investing in renewable and clean energy years after years. The Company has established Thai Conservation of Forest Foundation (TCOF) over 20 years ago with regrowing important watershed forests in Thailand as its major task. The global energy trend is moving towards green energy and lower emission. Meanwhile, Thailand’s National Energy Plan aims to achieve zero emission or carbon neutrality within 2065-2070. EGCO Group has, therefore, adjusted its business goal to better address such trend and plan.

“EGCO Group has set a new goal of achieving carbon neutral within 2050. Our mid-term goal is to reduce carbon emission intensity by 10% within 2030 from the level achieved in 2020. This ambitious goal confirms our vision “To be a major sustainable Thai energy company with full commitment to environment protection and social development support.”

To achieve this goal, EGCO Group has identified the “Cleaner, Smarter and Stronger to Drive Sustainable Growth” direction. By “Cleaner”, the Company invests in environmentally friendly business and increases its operation efficiency to reduce carbon emission. “Smarter” refers to commitment to enhancing power security and investing in New S-Curve business to cope with digital disruption. “Stronger” means providing its shareholders with high returns through strong business partnership that nurtures mutual growth of all stakeholders.

Under this direction, EGCO Group will implement through the 4I Strategies – Invest, Increase, Improve and Innovate. “Invest” means making investment in sustainably growing assets that generate satisfactory returns in the long run. This focuses on new environmentally friendly businesses, such as generating power from renewable energy, LNG, and New S-Curve businesses. “Increase” refers to strengthening financial competitiveness. “Improve” refers to upgrading operational performance and asset management to achieve international excellence level. Lastly, “Innovate” means using innovation to drive sustainable business operation, enabling the Company to always be ready for any future change.

About EGCO Group
EGCO Group has currently a total equity contracted capacity of 6,016 MWe. This includes 29 commercially operating power plants with total equity contracted capacity of 5,695 MWe, and two power plants under construction representing total equity contracted capacity of 321 MWe. From the portfolio, the total power generated from renewable energy, including biomass, hydropower, solar power, wind power, thermal power and fuel cells, is 1,364 MWe. 

EGCO Group’s power plants are located in eight countries, namely Thailand, Lao PDR, Philippines, Indonesia, Australia, South Korea, Taiwan and USA. In addition, it has energy-related businesses, including oil pipeline extension to the northeastern region project and EGCO Rayong Industrial Estate Project, and has obtained the shipper license to source and supply Liquefied Natural Gas in Thailand.