In keeping with global energy trends and Thailand’s national energy plan, GPSC sets new corporate strategy, using a 4S model while heightening its efforts in reducing carbon emissions. Moving toward clean energy, the company also aims to expand its green energy portfolio by over 50% of its total domestic and overseas capacity in 10 years. With India, Vietnam and Taiwan as the key production countries, the company is advancing toward becoming one of the top three energy innovation companies in the ASEAN region.

Mr. Worawat Pitayasiri, President Chief Executive Officer of Global Power Synergy Public Company Limited or GPSC, the innovative power flagship of PTT Group, revealed that GPSC is currently undergoing a business strategy update to keep pace with the changing global energy trends and Thailand’s national energy plan, which aims to reduce the intense global warming by using clean energy. The four main strategies in the 4S model will help move GPSC toward being among the top three energy innovation for sustainability companies in the ASEAN region.

“GPSC aims to increase its clean energy portfolio and raise its combined capacity by more than 50% in 10 years or by 2030. The company is also continuously developing the energy storage system innovation using the SemiSolid technology, which will pave the way toward the electric vehicle and related businesses. To keep abreast with the changing global energy trends which are moving toward cleaner energy, GPSC is revising its corporate strategies to ensure sustainable growth and compliance with global trends. At the 2021 United Nations Climate Change Conference, also known as COP26, countries around the world were encouraged to commit to achieving net-zero carbon emissions by 2050, and the Thai government’s national energy plan has taken it into account, resulting in a revision of the country’s power development plan (PDP 2022), which is a part of the national energy plan that will focus more on clean energy and will be ready in 2022,” said Mr. Worawat.

The 4S strategy model comprises the following. S1: Strengthen and expand the core, strengthening the company’s core businesses, with an emphasis on ensuring stable world-class production capacity to meet clients’ demand and expand to other related businesses. S2: Scale-up green energy, scaling up green energy development projects including solar and wind energy as well as an integration of renewable energy into an energy storage system. S3: S-Curve & Batteries, continuously developing energy innovation and businesses of the future including an energy storage system and batteries for electric cars and other electric vehicles and creating an added-value chain with innovation. S4: Shift to customer-centric solutions, providing solutions for customers’ various needs including power and utility generation using energy innovations such as the energy storage system at both the baseload power plants and renewable power plants and providing optimum energy efficiency solutions employing platforms that ensure environmentally friendly power generation for clients in government agencies as well as private companies.

“Our new strategy’s main objective is to create an opportunity for us to develop energy platforms that are in line with the shifting energy technology and innovation trends in the form of collaborations and feasibility studies with local partners in target countries, particularly in India, Vietnam, and Taiwan, leading to our staff members’ enhanced expertise in developing new projects in the future in preparation for the rapid growth. Currently, the company’s total equity capacity is 7,102 megawatts, with renewable energy accounting for 37%, natural gas 48%, coal 11%, and others 4%,” added Mr. Worawat.

The 4S strategy model originated from GPSC’s 3D+1C framework which has been vigorously followed to sustainably drive the company’s businesses. The framework’s key concepts are Decarbonize, enhancing production efficiency to reduce carbon emissions, Decentralize, distributing fuels and spreading out power grids to promote clean energy power generation, Digitalize, using digital platforms to optimize energy management efficiency, and Convergence, merging power producers and consumers.

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