GPSC is implementing 4S model to gear up its power business in response to the trend of global warming with an intention to achieve the target of Carbon Neutrality by 2050 and Net- Zero GHG Emissions by 2060. The company is expanding its renewable energy portfolio to more than 50% of its capacity by discontinuing the investment in coal power plants, seeking technology to capture and make use of carbon dioxide, and selling carbon credit. This is all to become a world-class company specialized in energy innovation for sustainability.

Mr. Jaruwat Singsomdee, Senior Vice President of Subsidiary and Investment Management and Acting Division Manager of Climate Change and Sustainability Policy of Global Power Synergy Public Company Limited or GPSC, the innovative power flagship of PTT Group, revealed that GPSC has determined to fuel up its power business based mainly on power innovations in order to enhance its productivity, focusing on solutions to climate change and strategies for sustainability. The company has also set up a goal to become an organization with Carbon Neutrality by 2050 and Net-Zero GHG Emissions by 2060. With collaboration from PTT Group and the implementation of 4 main business strategies or 4S model, GPSC is expected to become a world-class company specialized in energy innovation for sustainability.

The strategies in 4S model consist of S1: Strengthen and Expand the Core, focusing on the optimization of production capacity in the core businesses, S2: Scale-up Green Energy, increasing the proportion of development on the clean energy projects, S3: S-Curve & Batteries, developing energy innovations and S-Curve businesses, and S4: Shift to Customer-centric Solutions, offering solution service that can satisfy the needs of customers in terms of both electricity generation and utilities by means of energy innovations in both main and alternative power plants.

“The 4S model will enable us to achieve Net-Zero target as it helps gradually reduce the emission of carbon dioxide in a continual manner. Referring to S1 strategy, we are determined to increase the performance of power plants and we will no longer invest in new coal power plants. For S2 strategy, we are trying to increase the proportion of renewable energy power plants to more than 50% of our portfolio by the year 2030. According to S3 strategy, we are always looking for new innovations such as the batteries that are capable of enhancing the efficiency of renewable energy. Finally, regarding S4 strategy, we are providing our energy management solution services to fulfill the needs of our customers, focusing especially on the use of energy innovations so that our customers shall receive the maximum efficiency,” said Mr. Jaruwat.

Even though the business development plan of GPSC emphasizes the more proportion of investment in renewable energy power plants, the production of electricity and steam has still to rely on fossil fuel energy. Thus, it is necessary to find out the new technologies that can help capture carbon dioxide and make use of it (Carbon Capture Utilization and Storage: CCUS). In addition, there must be the study of possibilities related to the use of hydrogen gas as an ingredient in the fuel mixture to increase the combustion efficiency while reducing the generation of carbon dioxide. At the meantime, the captured carbon dioxide can be further traded in the market as carbon credit. GPSC has been persistent to carry out all of the aforementioned so that the Net-Zero target shall be achieved.

“Currently, the main power plants are still in need of further development to catch up with the domestic demand. However, the expansion of clean energy portfolio is expected to increase the fuel distribution, leading to the reduction of carbon dioxide emission. Today, there are no technologies that can really respond to Low Carbon policy together with reliability. As an energy company, we must be trying to find out such effective technologies, such as the development of batteries to upgrade the efficiency of renewable energy, or the carbon capture technologies, which are now considered the most effective solutions that can fulfill the needs of customers who are heading towards the trend of clean energy,” Mr. Jaruwat added.

In addition to the corporate strategies, the company also places an emphasis on ESG (Environmental, Social and Governance). At the very moment, the company is focusing mainly on the issues of climate change, which is believed to reduce impact to both society and environment in a sustainable manner. Some studies concerning the investment in green energy projects have been conducted with an intention to proceed social responsibility and to achieve the future goals. Moreover, the company is participating some of the leading institutes, both in and outside the country, to encourage our company’s sustainability.

Share this News: