Banpu reveals green business plan strategy

Banpu reveals green business plan strategy

The plan will be achieved by expanding Banpu’s green energy portfolio and developing energy technologies that respond to global energy trends, weathering global disruptions through a robust business ecosystem with strong synergy and ready to capture new opportunities for stable growth.

Somruedee Chaimongkol CEO, Banpu Pcl

“The performance of the energy business in 2020 reflects the challenges from the COVID-19 crisis which has substantially affected the global economy and all industrial sectors, as well as dampened global demand for energy,” said CEO Somruedee Chaimongkol. “However, Banpu managed to adapt its business strategies and operations to thrive in the changing circumstances. Concurrently, Banpu’s transformation has made considerable progress, marking a milestone in our journey towards the goal of energy sustainability.”

Chaimongkol added that it is reflected in Banpu’s increasing portfolio of green and smart energy through the operation of Banpu Next Co., Ltd., which strives to grow business in response to the energy trends of the future. “We are committed to promoting the production and use of green energy, as well as driving the successful company-wide digital transformation by leveraging innovation and technology,” he said.

Banpu’s new 5-year strategy focuses on three main areas: acceleration – expediting greener and smarter growth transitions in Banpu’s four flagships of gas, mining, power, and energy tech; antifragile – weathering global disruptions and economic cycles through integrated energy solutions by diversifying risks; and augmentation – building on Banpu’s current business ecosystem and core competencies to capitalise on new opportunities to generate recurring revenue.

The new strategic plan will expedite the processes of the transition to the portfolio of green energy and energy technology development that aligns with future energy trends, helping Banpu achieve the goal faster and in a more sustainable manner, the CEO explained.

“Banpu is paving the way to become a leading international versatile energy provider. We are committed to offering a complete range of energy solutions that match the evolving market and consumer behaviours, as well as the fast-changing energy trends of the future, while confronting and overcoming unforeseen challenges,” Chaimongkol said. “By 2025, we set the target that the earnings before interest, taxes, depreciation, and amortisation from the green energy and energy technology businesses will account for 50 per cent of Banpu’s portfolio, in order to secure our strong path towards the future of smarter energy for sustainability.”

Banpu reported its operating results for full-year 2020 with total sales revenues of $2.28 billion, a decrease of $476 million or 17 per cent from the same period last year.