SET-listed Banpu Power, the power generation arm of energy conglomerate Banpu Group, aims to achieve key revenue and environmental goals by 2030 through business operations in three countries.
The company wants to produce and deliver energy that generates robust cash flow, while advancing its decarbonisation efforts.
"Our growth plan and strategic targets for 2030 reflect our dedication to a responsible and sustainable business transition," said Issara Niropas, chief executive of Banpu Power.
The company wants to increase earnings before interest, taxes, depreciation and amortisation (Ebitda), along with lifting its power generation capacity.
The capacity is set to increase by 1,500 megawatts through gas-fired power plants by 2030, adding to the current total capacity of 3,652MW.
"We want to generate total Ebitda exceeding 1.8 times that of 2022–23," said Mr Issara.
The average Ebitda during 2022 and 2023 was 8.1 billion baht.
Banpu Power also plans to achieve 65% of Ebitda from clean energy businesses.
The company wants to reduce greenhouse gas emissions to below 0.549 metric tonnes of carbon dioxide equivalent per megawatt-hours, down from 0.676 tonnes at present.
Banpu Power plans to spend between US$1-1.5 billion between 2025 and 2029 to support its operations and investments in three countries.
In the US, the gas-fired power plant business, using combined cycle gas turbines, is expected to be expanded through a joint venture with BKV, the gas production arm of Banpu Group, alongside investment expansion in renewables, as well as carbon capture, utilisation and storage.
In China, Banpu Power wants to expand its renewable energy portfolio through partnerships, while conducting feasibility studies on biomass co-firing at its three combined heat and power plants.
In Indonesia, investments in renewables related to the gas value chain and biofuel development are priorities, aiming to reduce greenhouse gas emissions, improve the local economy and create jobs.