Renewable energy/GPSC

Editorial staff

Global Power Synergy Plc (GPSC) has demonstrated its proactive marketing for the year 2025 based mainly on the S4 strategy with an aim to penetrate renewable energy certificate(REC) market, focusing on trading electricity produced from renewable energy directly with its industrial customers, moving forward to develop the low-carbon products in compliance to the dynamic trends of global trade and the target of Net Zero Emissions.

Worawat Pitayasiri, GPSC's president and chief executive officer, the innovative power flagship of PTT Group, said that the domestic demands for electricity produced from renewable energy, especially those of the entrepreneurs in manufacturing industry for export, have been increasing steadily. Therefore, it is necessary to set up plans to increase the proportion of clean energy use in accordance with the world’s target to reduce carbon dioxide emissions.

Worawat Pitayasiri

At present, GPSC has been actively collaborating with its customers and offering renewable energy certificates (REC) produced and issued from solar power plant projects. It is believed that this can promote the use of renewable energy in the industrial sector.

Recently, GPSC has signed a REC sale and purchase agreement with an automotive parts manufacturer, which is a contract related to the purchase of REC generated from its solar power plants in Rayong for a period of 3 years.

This is considered an important step to penetrate the market of direct sale of REC produced from renewable energy under the mechanism of International Renewable Energy Certificate (I-REC). The operators in the industrial sector can rely on the I-REC mechanism in order to lessen their greenhouse gas emissions scope 2; in addition, REC is also recognized as an important mechanism to help promote the use of green energy.

It is expected that this collaboration about REC purchase shall help increase the trading volume with both existing and future customers and expand the market to other customer groups as well. Besides, this will enable the entrepreneurs to manage their energy costs more appropriately and meanwhile maintain their competitiveness in manufacturing and exporting products to other countries that have reinforced the stricter environmental taxes such as, the Carbon Border Adjustment Mechanism (CBAM) of the European Union.

The production of electricity based on renewable energy with REC is driven by the strategy of S4 which is “shift to customer-centric solutions”, focusing on the provision of solutions that is not merely fulfill the customers’ demands but also enhance their competitiveness under the global trade rules that place greater importance on Net Zero Emissions. The strategy is one of the strategies set up in the 4S Strategy of GPSC, which includes S1: strengthen and expand the core, S2: scale-up green energy, S3: new s-curve, and S4: shift to customer-centric solutions.