Message from the Managing Director

The Year 2024 continued to bring intense challenges as the impacts of climate change grew more severe, disrupting lives, property, and economies worldwide. COP29 emphasized the critical importance of global collaboration to achieve tangible progress in reducing greenhouse gas emissions and conserving natural resources. At CKPower, as one of the region’s largest producers of electricity from renewables, recognizes its vital role in driving energy stability and fostering sustainable growth. We remain steadfast in our commitment to contributing to these global goals by consistently creating positive impacts.

"Transition in Action" – Turning Commitment into Action With over 13 years of expertise and leadership in renewable energy, CKPower continues to advance the Energy Transition, aligned with our vision of becoming the region’s leading renewable energy producer with one of the lowest carbon footprints. In 2024, under the theme "Transition in Action," we focused on implementing initiatives at all levels of the organization while expanding collaboration with our stakeholders to promote clean electricity generation from renewable sources such as hydropower and solar energy. These efforts have contributed to the reduction of greenhouse gas emission of over 4.4 million tCO2e annually while sustainably and efficiently meeting the growing energy demand.

The C-K-P Strategy: Driving Sustainability Across All Dimensions

C – Clean Electricity: CKPower remains a leader in renewable electricity generation, with 93% of our total installed capacity in 2024 derived from renewable sources. Our carbon intensity remains remarkably low at 0.0689 tCO2e tCO2e/MWh of electricity generated.

Through setting clear targets for greenhouse gas emission reduction and consistently monitoring our performance, CKPower was honored with the "Climate Action Leading Organization (CALO)" award for Outstanding Achievement in 2024, presented by the Ministry of Natural Resources and Environment. This recognition underscores our unwavering commitment to reducing greenhouse gas emissions, aligned with our CKP NET ZERO EMISSIONS 2050 goal.

To mitigate the impact of climate variability and ensure stability in clean electricity generation, CKPower has developed the CKP Forecasting System—a cutting-edge tool designed to enhance the accuracy of water flow forecasting. Additionally, we are advancing our assessments of climate-related financial risks (IFRS S2) and disclosures tied to nature and biodiversity (TNFD), underscoring our dedication to sustainable economic development and ecosystem preservation.

K – Kind Neighbor: CKPower is dedicated to embedding sustainability into the mindset of every employee. In 2024, we participated in the "ESG DNA" initiative in collaboration with the Stock Exchange of Thailand, aiming to promote a sustainability-driven culture within the organization. This initiative serves as a key strategy for enhancing the capabilities of employees across all levels.

Beyond our organization, CKPower extends sustainability to the communities we serve. Our "Hinghoi Project" continues to improve quality of life and create sustainable livelihoods by increasing accessibility and advancing education in renewable energy. This initiative was honored with the Asia Responsible Enterprise Awards 2024 in the Social Empowerment category for the third consecutive year. Reflecting its success, the "Hinghoi Project" has positively impacted communities surrounding our power plants and remote areas in Thailand and the Lao PDR through its ‘Competency - Co-creation -Connect - Cooperation’ framework.

P – Partnership for Life: Collaboration is at the core of CKPower’s success. We have initiated innovative projects, including the exploration and development of energy from green hydrogen and the sale of Renewable Energy Certificates (RECs), to drive clean energy adoption across the region. Additionally, we have prioritized strengthening the stability of our power transmission systems and working closely with communities to mitigate risks, such as wildfires, ensuring operational resilience and continuity.

On the governance front, CKPower has reinforced awareness of best practices and enhanced risk management at all organizational levels through continuous communication efforts, including the publication of a quarterly Compliance Journal.

Through the initiatives outlined above, CKPower has exemplified its unwavering commitment to driving positive transformation across all dimensions—environmental, social, governance, and business resilience. The company has maintained the highest distinction of “AAA” in the SET ESG Ratings for the second consecutive year, been recognized as a sustainable stock for five consecutive years and earned an “Excellent” ranking in the Corporate Governance Report of Thai Listed Companies (CGR) for the seventh consecutive year. These accolades highlight our determination to propel the organization toward genuine and lasting sustainability.

As the Managing Director and the representative of the Corporate Sustainability Steering Committee, I extend my deepest gratitude to our shareholders, stakeholders, and employees for their unwavering support and dedication to our shared vision of sustainability. Your trust and collaboration remain the driving forces behind our success in driving positive impacts across environmental, social, and governance dimensions. Our focus on stable renewable electricity generation serves as a critical foundation for ensuring energy security and fostering sustainable development for communities and the economy alike.

Together, we will forge ahead with resilience and determination, building a sustainable and prosperous future for all.