Electricity Generating Public Company Limited or EGCO Group reported satisfactory progress of the new infrastructure and utility projects under PT Chandra Daya Investasi (CDI) in Indonesia, in which it has invested since late 2023. CDI plans to develop projects under different business units to meet with the increasing demand for electricity and to support Indonesia’s green energy development mission. Its projects include the floating solar project and solar rooftop project with combined capacity of 35 MW, a feasibility study of increasing gas-fired power plant capacity, a plan to expand the integrated water production and treatment business, and a plan to grow chemical tank and jetty business to meet with the increasing demand of customers located in industrial estates and its partners.

Dr. Jiraporn Sirikum, President of EGCO Group, said, “In late 2023, EGCO Group invested in 30% stake in CDI, an infrastructure and utility company under PT Chandra Asri Pacific Tbk (CAP) which is a leading chemical and infrastructure company in Indonesia. We have been working closely with both CAP and CDI to make CDI a leading infrastructure and utility investment platform in ASEAN. We focus on expanding and developing CDI’s existing projects in parallel with strategic investment through joint venture with partners, merger and acquisition, and collaboration in power business, water business, and chemical tank, jetty and cargo business. We concentrate on optimizing the benefits of our existing assets and expand customer base to support the increasing demand in the future.

CDI has reported progress of new projects in three business groups as follows:

• Electricity generation and sales business: CDI is developing a 32-MW floating solar (including two phases: 8 MW and 24 MW) project in a reservoir of its water production and treatment business, and a 3-MW solar rooftop project. The company is seeking an opportunity to install additional solar rooftops in industrial estates and studying a plan to increase capacity of KPE Power Plant Phase 2 to support new plants in Krakatua Posco Industrial Estate which is under development.
• Integrated water production and treatment business: Located in Cilegon, this business has long-term contracts with various industrial customers. CDI plans to build additional reservoir and water treatment plants to better serve the increasing demand in industrial estates.
• Chemical tank and jetty management business: CDI provides integrated chemical storage and pier business in Serang, a strategic area. CDI is planning for business expansion after CAP invested in Shell’s refinery and petrochemical plant in Singapore.

“EGCO Group’s investment expansion through CDI has achieved impressive progress, especially in the investment in the electricity generation and sales business. We expect to install solar rooftop within 2024 and to begin the construction of a floating solar unit in 2025. CDI has efficiently managed the investment budget to support future investment and growth. Such advancement clearly reflects the efficient strategic partnership between EGCO Group, CAP and CDI, and the synergy between the expertise in the electricity and energy business throughout the past 32 of EGCO Group’s operations and CAP’s infrastructure and utility business expansion, which mutually drive the growth of CDI business in line with Indonesian and ASEAN economic development,” concluded Dr. Jiraporn.

About EGCO Group

As of 30 June 2024, EGCO Group has a total equity capacity of 7,003 MWe in operation and under construction. Total equity capacity from renewable energy is 1,447 MWe (equivalent to 21% of the total portfolio and growing). 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 on the 2023 Dow Jones Sustainability Index (DJSI) for the 4th consecutive year.