Innovation Management Overview

Why is this Important?

Currently, businesses rely on innovative and technologies responding to changes in digital era and demands of customers. Innovations are emerging in the electricity generation industry to improve efficiency, including distributed energy production, smart grid technology, and the growth of energy storage solutions. ​

Amid the rapid changes, EGCO Group collaborates with organizations to accelerate development and share knowledge. The company fosters innovation among employees and invests in research and development. This allows the company to adapt to evolving consumer needs and align working processes with business strategies, which is also crucial for continued growth and commitment to a clean energy transition for society. ​

Sustainability Material Topic: Digital Transformation & Innovation Management
Stakeholder Impact on Materiality Topics

Employee

Shareholders

Government Agencies

Business Partner

Contractors and Subcontractors

Investors

Management Approach

Innovation Target

Long Term Target

  • At least 3 new business projects per year to be approved by the investment board of directors.

2024 Target

  • Three new business projects to be approved by the board of directors (including the investment via Innopower Co., Ltd. and innovation contest).

  • Three of the candidate innovation projects can be practically implemented and one innovative idea can be classified as a new business project.

2024 Performance

  • Three new business projects were approved by the investment board of directors.

  • There were 28 candidates for innovation and innovative ideas.

  • Among the candidates, 8 projects were implementable and 4 innovative ideas were classified as new business projects.

EGCO Group Innovation​

EGCO Group encourages its personnel to apply innovative ideas and creations into their working processes to continually improve performance and drive the organization toward sustainable development, as well as strive for building a learning organizational culture.

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Sustainable Innovative Customer Program​

As a leading electricity generation company, EGCO Group recognizes the growing importance of environmental responsibility and evolving customer expectations.​

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Related Documents

Policies, Requirements and Performance

Updated as of May 2025​

The information reported above was prepared in accordance with the Global Reporting Initiative Standards (GRI Standards). It has been audited by an external party and has received limited assurance through the 2024 Annual Report.