EGCO Group's Renewable Energy Expansion in the US through APEX
Key Ideas
- EGCO Group, through its holding in APEX, aims to achieve a 30% renewable energy production capacity by 2030 with a focus on wind, solar, hydrogen power plants, and battery storage systems.
- APEX, known for its role in developing renewable energy projects, follows a hybrid business model by both developing projects for its portfolio and selling portions to external parties.
- In 2024, APEX plans to complete and operate seven renewable energy power plants, including wind, solar, and battery storage systems, adding approximately 200 megawatts of capacity to EGCO's portfolio.
- Partnerships with reputable organizations like Meta for Power Purchase Agreements (PPAs) strengthen APEX's position in the market, with recent successes like a 15-year PPA for the Angelo solar power plant.
EGCO Group's strategic move to expand its renewable energy projects in the United States through its holding in APEX marks a significant step towards achieving a greener future. With a vision to reach a 30% renewable energy production capacity by 2030, the company is heavily invested in wind, solar, hydrogen power plants, and battery storage systems. Jiraporn Sirikum, President of EGCO, highlighted APEX's pivotal role in realizing this objective, leveraging its diverse portfolio of 211 projects encompassing various sources of clean energy. APEX's hybrid business model, focusing on developing projects in-house while also engaging in external sales, sets a sustainable pathway for growth. By completing and operating seven renewable energy power plants in 2024, including wind, solar, and battery storage systems, APEX is set to enhance EGCO's overall capacity by 200 megawatts. The collaboration between APEX and reputable entities like Meta for Power Purchase Agreements ensures a stable market presence and underscores the industry's shift towards sustainable energy practices. With a positive sentiment towards clean energy initiatives and a commitment to environmental stewardship, EGCO and APEX's endeavors exemplify a promising trajectory in the renewable energy sector.