Electricity Generating Public Company Limited or EGCO Group, led by Dr. Jiraporn Sirikum, President, and the management team met with the management team of PT Chandra Daya Investasi (CDI) and attended a briefing on CDI business direction as well as followed up on project investment progress. The meeting was held during ECGO Group’s Thai analyst site visit program to CDI in Jakarta, Indonesia, from 11-13 September 2024.

Dr. Jiraporn Sirikum, EGCO Group’s President, explained that CDI is a joint venture between PT Chandra Asri Pacific Tbk (CAP), Indonesia’s largest comprehensive petrochemical producer, which holds 70% and EGCO Group, holding 30% stakes in the joint venture. CDI invests in infrastructure and utility in Indonesia and has closed such deal in December 2023. During the Thai analyst site visit, CDI presented its performance, operations and business expansion plan covering the entire supply chain in the electricity generating and sales business, utility business, port, tanks and jetty management business, and logistics businesses through vessel shipment. The business expansion plan is aimed to strengthen CDI’s business and support CAP’s future growth. At present, CAP has many projects in the pipeline, including the construction of new alkaline plant, a plan to strengthen its business portfolio, a plan to expand to infrastructure business through investment in CDI. Meanwhile, CDI is developing and building floating solar and solar rooftop projects.

“We have observed concrete progress in our investment through CDI. We appreciated CDI’s financial management efficiency to support its future investment and growth. Such impressive progress clearly reflects the effectiveness of the strategic partnership of EGCO Group, CAP and CDI. Under this partnership, the synergy between EGCO Group’s 32-year experience in the power and energy business and CAP’s business expansion opportunity in infrastructure and utilities projects is optimized. The synergy will drive CDI growth in line with Indonesia and ASEAN economic expansion. We strongly believe that our investment in CDI has minimal risk and high opportunity to generate constant profit,” concluded Dr. Jiraporn.

About EGCO Group

As of 12 September 2024, EGCO Group has a total equity capacity of 6,993 MWe in operation and under construction. Total equity capacity from renewable energy is 1,437 MWe (equivalent to 21% of the total portfolio). The RE portfolio includes biomass, hydropower, solar power, onshore and offshore wind power, fuel cells, and battery storage. EGCO Group’s facilities and other projects are located in 8 countries, namely Thailand, Lao PDR, the Philippines, Indonesia, Australia, South Korea, Taiwan and USA. In addition to power business, other energy-related businesses of the company include EGCO Engineering and Service Co., Ltd. (ESCO) providing power plant operations, maintenance, engineering, construction, energy conservation and training services to power and industrial plants in many industries; the infrastructure and utilities company “CDI” in Indonesia, Thai Pipeline Network Co., Ltd. (TPN), EGCO Rayong Industrial Estate (ERIE), “Innopower” which is a high tech start up incubator that EGCO Group owns together with its partners EGAT and RATCH Group; and “Peer Power” which is a new financial technology company. EGCO Group has been listed in the Dow Jones Sustainability Index (DJSI) for four consecutive years (2020-2023).