Amid the transition from fossil fuels to clean energy driven by renewable energy in the power generation sector, Renewable Energy Certificates (RECs) have emerged as a vital tool for organisations to demonstrate their commitment to achieving net-zero greenhouse gas emissions. RECs also fulfil business requirements for advancing environmental development while significantly enhancing sustainability branding and strengthening an organisation’s image in this area.
As a result, the REC market in Thailand is experiencing significant growth, supported by both public and private sectors.
CK Power Public Company Limited (CKPower) (SET Symbol: CKP), a leading regional producer of renewable electricity with one of the lowest carbon footprints in the industry, continues to drive green finance opportunities through the sale of Renewable Energy Certificates (RECs). The company is also preparing to launch commercial operations for four solar power projects with a combined capacity of 13 MW by 2027, reinforcing Thailand’s energy transition and sustainable energy goals.
Mr Thanawat Trivisvavet, Managing Director of CKPower, stated, “Guided by our five-year sustainability strategy (2022–2026), CKPower has expanded its renewable energy initiatives both domestically and internationally. In collaboration with Innopower Company Limited, a subsidiary of EGAT, we have actively participated in the REC trading platform since 2022. Our subsidiary, Bangkhenchai Company Limited (BKC), has been registered as a renewable power plant, and to date, we have delivered 39,660.46 RECs to Innopower. This underscores our commitment to promoting renewable energy usage and reducing greenhouse gas emissions over the long term.”
He continued, “In mid-2024, CKPower signed an agreement with Mekha V Company Limited, a subsidiary of PTT Public Company Limited, to explore using RECs from Xayaburi Power Company Limited (XPCL), a run-of-river hydropower plant in Lao PDR, on the ReAcc platform. This initiative supports energy transition in the industrial sector and prepares for the adoption of renewable energy across our supply chains.”
In partnership with Bangkok Expressway and Metro Public Company Limited (BEM), CKPower is developing three solar power projects with a total installed capacity of 6.95 MW. Construction is underway, and the first project is expected to begin commercial operations in the first half of 2025. CKPower is also exploring further opportunities to integrate renewable energy into Thailand’s expanding transportation systems. Moreover, BKC has signed a Power Purchase Agreement (PPA) under the Feed-in Tariff (FiT) programme with the Provincial Electricity Authority (PEA) for a 6 MW renewable energy project. This project, slated for commercial operation by 2027, comes with a 25-year contract.
“These initiatives are aligned with CKPower’s C-K-P strategy, which emphasises resilience and the pursuit of new opportunities in renewable energy. CKPower recently earned the AAA rating in the 2024 SET ESG Ratings, marking its fifth consecutive year as a sustainable stock in the Resources sector. Looking forward, we aim to increase renewable energy production—including hydropower and solar power—to over 95% by 2043. At the same time, we are dedicated to innovating in energy efficiency and promoting energy conservation across our value chain, with the ultimate goal of achieving net-zero greenhouse gas emissions by 2050,” Mr Thanawat added.
“CKPower firmly believes that renewable energy is the cornerstone of the energy transition. We remain dedicated to fostering clean energy production and adoption, creating a sustainable energy system and society for the long term,” he concluded.
In conclusion, the growing adoption of Renewable Energy Certificates (RECs) reflects a global shift towards clean energy, with organisations leveraging RECs to align with net-zero emissions goals, enhance sustainability branding, and meet environmental development requirements. CK Power Public Company Limited (CKPower) exemplifies leadership in this transition through its commitment to renewable energy investments, such as solar and hydropower projects, and the promotion of RECs to reduce carbon footprints. By aligning its strategies with Thailand’s energy transition goals and focusing on long-term sustainability, CKPower is positioning itself as a driving force in the region’s clean energy landscape, setting a benchmark for innovation and environmental stewardship.
