BCPG Public Company Limited (BCPG) is the flagship green energy wing of Bangchak Corporation (BCP Plc), one of Thailand’s leading power suppliers. BCPG is the only company in Thailand to operate solely in the renewable energy sector. Aside from Thailand, BCPG now has solar energy operations in Japan, and invests in wind power in the Philippines and geothermal power in Indonesia.
BCPG was established on 17 July 2015 with a registered capital of THB10bn to supply clean and renewable energy. BCP holds the total shares. BCPG started with the transfer of solar power assets in five provinces across Thailand with an accumulative installed capacity of 170 megawatts (MW) from BCP. This transfer of solar assets was a result of the restructuring of BCP’s renewable energy business group. BCPG was later awarded with the rights to develop projects under the Solar Power Plants for Governmental Agency and Agricultural Cooperatives Program in 2016 and 2017, with a capacity of 21 MW. BCPG currently operates solar power plants with a total installed capacity of 191 MW across Thailand.
BCPG entered the solar power business in Japan in 2016 by acquiring solar power plants with a total installed capacity of approximately 200 MW. As of November 2017, there are projects with 40 MW of capacity in operation, with 152 MW of capacity under development.
In 2017 BCPG has been actively pursuing business expansion through investments in wind power in the Philippines and geothermal power in Indonesia.
In the Philippines, BCPG has 40% stake in the Nabas Wind Farm Project, operated by Petro Wind Energy Incorporation (PWEI), with 14 MW production capacity in operation, and with a 6 MW production capacity under development held by BCPG.
In Indonesia, BCPG holds an indirect equity in three geothermal power projects with an equivalent total power production capacity of 182 MW:
- 20% in the 347 MW Wayang Windu Power Plant, (127 MW already in operation)
- 17.3% in Salak Power Plant, with a total production capacity of 377 MW equivalent of electricity and steam
- 17.3% in Darajat Power Plant, with a total production capacity of 271 MW equivalent of electricity and steam.
By the end of 2017 BCPG will have secured a total installed capacity of 585 MW from renewable power plants in four countries across Asia Pacific and is continuously growing. BCPG was listed in the Stock Exchange of Thailand in the energy and utilities sector on 28 September 2016 with a total registered capital of THB10,000m. This was divided into 2,000 million common shares with the par value of THB5.00 Baht per share. Of this THB9,950m Baht was paid up and divided into 1,990 million common shares with the par value of THB5.00 Baht per share. As of 19 October 2017, the company’s market capitalisation was THB40,397m.
Primarily, the fund mobilisation from the initial public offering of the newly issued shares would finance business expansion, support sustainable growth in the international market, and establish BCPG’s leading position in the renewable energy businesses in South-east Asia. BCPG stock is traded on the Stock Exchange of Thailand under the symbol ‘BCPG’ and has been included in various indexes namely FTSE SET Mid Cap Index, MSCI Global Small Cap Index, FTSE SET Shariah Index and SET100.
BCPG executes business operation in compliance with corporate governance principles. The company has been certified by Thailand’s Private Sector Collective Action Coalition Against Corruption (Thai CAC) and has also been recognised with various awards, for example, ‘Best IPO Award’ at the Asset Triple A – Country Awards 2016, ‘Renewable Energy Deal of the Year Award’ at the Asset Triple A – Asia Infrastructure Awards 2017, and ‘Best Renewable Energy Company – Thailand 2017’ and ‘Best Corporate Governance Principles – Renewable Energy Company – South East Asia 2017’ from The European in its Global Banking & Finance Awards 2017.
Besides expanding businesses and developing the organisation towards sustainability, BCPG is also dedicated to conserving the environment and socially responsible activity through various academic, environmental and initiatives. BCPG also encourage its employees to help improve the living standards of the communities where the firm operates. Environmental and social responsibility is embedded into BCPG’s business practice. In 2016, BCPG was recognised by Thailand Greenhouse Gas Management Organization (TGO) for successfully managing seven solar power plant projects, which have been registered with the TGO to reduce emissions of greenhouse gases by 150,984 tonnes of CO2 – the second highest ever to be recognised by TGO.
BCPG’s strategy is well defined with the four letters – B, C, P and G. ‘B’ is for ‘Big & Quick’. This reflects the company’s focus on large scale investment with high yields using effective M&A approach, which leads to quick decision making. ‘C’ is for ‘Competitive Portfolio’; BCPG is a pure player in renewable energy business with a well balanced mix of different energy types and satisfying returns for shareholders. ‘P’ is for ‘Partnership Excellence’, or building trust and common values with partners and stakeholders beyond business partnership. Finally, ‘G’, for ‘Governance and Sustainability’ reflects BCPG as an engaging organisation with good governance with sustainability at its core.
While being committed to investing in, and operating renewable power plants globally, BCPG also seeks to better meet consumer needs by diversifying into many types of renewable energy. This includes innovation and services that embrace the Internet of Energy – a trend which is transforming the market.
As a ‘sustainable growth company’, BCPG strives to create sustainable future for all. A future enabled by renewable energy, smart technology and to realise its vision “World’s Greenergy Iconic Creator: The iconic greenergy developer who evolves the world through the greener ways.”