CK Power Plc (CKP), the power generation arm of construction firm CH Karnchang Plc, will double its electricity generation capacity to 4,800 megawatts within 2024, mostly from renewable energy, as the company continues to focus on clean power development.
The additional capacity, both from new development projects and power generation assets it will acquire, will come from hydropower plants as well as solar and wind farms, said Muntana Auekitkarjorn, CKP's deputy managing director for corporate planning.
At present, the company's capacity stands at 2,167MW, 89% of which is generated by facilities producing renewable power.
Under the new capacity, the proportion of renewable power will increase to 95%.
In another development, CKP is scheduled to sign a power purchase agreement with the state-run Electricity Generating Authority of Thailand (Egat) within the fourth quarter of this year to sell electricity from its Luang Prabang Hydroelectric Power project in Laos.
The company earlier signed a memorandum of understanding with Egat which pledged to buy electricity from the 1,460MW power plant at 2.4 baht per kilowatt-hour.
The dam is expected to start commercial operation on Jan 1, 2030.
CKP is currently working on financial issues concerning the project with its business partners, whose names were not revealed.
The project is among hydropower plants in Laos that export electricity to Thailand.
In March, the cabinet approved a power purchase of 10,500MW from Laos.
The development cost of the Luang Prabang facility is estimated at 150-160 billion baht, said Mrs Muntana during a meeting with stock investors late last year.
The Luang Prabang project is intended to be built on the Mekong mainstream in Houygno village, about 25 kilometres from Luang Prabang, according to the Mekong River Commission's website.
It is a run-of-the-river dam, with electricity to be sold to Thailand or Vietnam.
CKP earlier developed the Nam Ngum 2 hydropower plant with installed capacity of 615MW and the 1,285MW Xayaburi power plant in Laos.
The company plans to issue debentures worth 2 billion baht next year to support its capital spending in 2023.
