Mr. Kirana Limpaphayom, Chief Executive Officer of Banpu Power Public Company Limited, said, "The performance of the Temple I gas-fired power plant in the U.S. has been outstanding, thanks to an opportunity to make additional profits in the U.S. merchant market, especially during periods of peak load demand. Electricity prices in the merchant market move by market mechanisms, which create additional cash flows. We were able to efficiently cope with the challenges of rising energy prices from the combined heat and power (CHP) plants in China. BPP's centralized energy purchasing policy helps to reduce costs and promote energy security. In addition, the Company gained benefits from the Chinese government's measures to alleviate energy costs and to support power producers."
The contributions to BPP's operating results in 3Q/2022 were mainly from the Temple I power plant in the U.S., where Texas entered the summer period, which normally sees the year's peak load for electricity demand. As demand rises, electricity prices increase as well. In addition, the HPC power plant in Lao PDR and the BLCP power plant in Thailand have been operating efficiently with an Equivalent Availability Factor (EAF) of 95% and 100%, respectively, enabling reliability in power generation and distribution. The three CHP power plants in China also gained from higher selling prices for steam, while the SLG power plant (SLG) entered into a long-term contract for coal purchases, reducing coal costs and thereby significantly boosting the plant's performance.
In regard to the energy technology business, the Zhengding CHP power plant in China was selected to develop a solar rooftop project, supported by Zhengding County policy. Its current capacity of 58 megawatts can potentially increase to 167 megawatts by 2023, marking another successful step in BPP's renewable energy portfolio. The Company has also boosted its clean energy solutions via Banpu NEXT, which recently entered into an agreement to invest a 25% stake in Altotech Global, a developer of automatic IoT platforms to support energy management and optimization in office buildings and hotels. The e-Mobility business has continued growing under Muvmi, a service provider of e-tuk tuks. Muvmi has expanded its service coverage to 12 key areas with 251 electric tuk tuks and another 115 awaiting registration. For the EV charging station business, Evolt has expanded its service to provide 94 EV charging stations at Central Pattana Group's 25 department stores.
"BPP is adhering to environmental, social, and governance (ESG) principles. In 2022, the Company was included in the Stock Exchange of Thailand (SET)'s Thailand Sustainability Investment (THSI) list for the fifth consecutive year. In addition, our CAC (Thai Private Sector Collective Action Against Corruption) membership was renewed, reinforcing excellence in sustainability and transparency in business operations throughout the supply chain," concluded Mr. Kirana.
Learn more about BPP's business at www.banpupower.com
Source: ABM Connect
