Innovative Businesses

Amid the energy transition from fossil fuels to clean energy sources, power demand growth consistently continues. To meet the energy demand, domestically and internationally, EGCO Group continually searches for new, diversified businesses to secure growing and stable revenue for the group under sustainable investment and business principles on innovations and clean energy to alleviate environmental impacts in line with the move toward a low-carbon society.

EGCO Group has announced its three-year “Triple P” strategy (2025–2027), which focuses on achieving sustainable growth across all dimensions by balancing business opportunities, profitability, and its transition to a low-carbon organization. The strategy consists of three key pillars: 1. Profitability and Performance Energizing - Continuously increasing revenue and profit generation capabilities while maintaining financial stability to manage debt ratios and preserve company credit ratings, as well as prioritizing shareholder returns through a consistent dividend payment policy. 2. Power and Energy-related Focus - Focusing on investments in core power businesses, including natural gas-fired power plants, which play a crucial role in ensuring power system reliability during the energy transition, and renewable energy. Additionally, EGCO Group seeks investment opportunities in energy-related businesses. The company’s business expansion focuses on eight countries where business bases already exist. 3. Portfolio and People Management - Maximizing efficiency in the investment portfolio and human resource management by focusing on operational excellence, emphasizing strategic asset management for asset recycling to create long-term continuous growth, restructuring the organization to support international business expansion, and optimizing business processes through digital technology implementation to support future growth opportunities.

Distributed Generation

Distributed Generation

  • Distributed generation (PV, Micro-CHP, etc.)
  • Others, i.e. renewable energy generation, electricity innovations

Energy Efficiency

  • Information campaigns, audits, and tariff measures
  • Others e.g. provision of operation, maintenance, engineering and construction services to industrial customers and coal mining
  • Solar panel testing system

Fuel Switching

  • Electric vehicles/ charging network
  • Linden Cogen Power Plant completed improvements to its gas turbine to ensure it can support the combustion of fuels with a hydrogen mix.
  • Heating systems that reduce GHG emissions
  • Others e.g. biomass fuel

Demand-Side Management

Energy Efficiency

  • Energy audits, energy management services

  • Others e.g.

    • Co-developed research on innovation and commercialization opportunities with Innopower Company Limited and achieved readiness for renewable energy certificates (REC) trading.
    • Operation, maintenance, engineering and construction services to industrial customers.

Load Optimization

  • Power purchase agreements with varying peak and off-peak fees (tariff measures, contracting for load reduction)
  • Smart grid technology.
  • Micro-grids
  • Virtual power plants
  • Large-scale storage (>100 kWh)
  • Others e.g. provision of operation, maintenance, engineering and construction services to industrial customers, and coal mining

Innovative business is a new source of revenue that contributes to EGCO Group’s economic success, while aligning with the company’s Beyond 2°C Scenario (B2DS) target. Diversified businesses are a crucial factor that enables EGCO Group to seize the opportunities in the emerging energy market.

Currently, EGCO Group focuses exclusively on serving commercial customers. Providing services to residential customers or homeowners is currently not part of our strategic priorities.

Business 1: Circular Product Services

Providing access to the benefits of the equipment without owning it

According to the circular economy concept, this type of business allows the customers to utilize the equipment without owning it. EGCO Group takes care of its functionalities throughout its lifetime and takes responsibility for its end-of-life management.

For example, instead of selling solar PV, energy storage, smart meter, charging station, this business provides clean electricity, backup energy service, energy usage information and access to power for customers.

Business 2: Comprehensive Outsource Service for SPP/VSPP

Capitalizing on EGCO Group’s expertise in energy production and management system to accelerate energy transition

With the rise of decentralized power generation, EGCO Group can be a trusted expert who helps SPP and VSPP in all steps from project development through operation and trading. Moreover, a high market share of power plant operation services in the same area can further give EGCO an opportunity to generate income through secondary services such as energy supply aggregators.

Business 3: Energy Management Service

Transforming clients with smart technology

Assisting smart cities, industrial estates, commercial buildings, factories and residential estates in holistic energy management including energy efficiency improvement, renewable energy generation and consumption, sector coupling with green electrification, micro-/smart grid formation and overall cost reduction. All of these are with the help of smart technology. This business can be developed in conjunction with Circular Product Services and will grant a strategic position for the Green Mobility business for EGCO Group. ESCO as part of EGCO offers a comprehensive suite of operation and maintenance services, complemented by energy management solutions by ensuring high availability, maximum MW output, optimized heat rate, and minimized O&M costs.

Business 4: Green Mobility

Powering urban private transportation and delivery service

An example of green mobility service is electric vehicle (EV) charging stations in the city. There are 2 service models including Stationary Smart Charging System, which allows users to park and charge their vehicles; and Swap and Go, allowing users to quickly exchange batteries without the need for charging. This business also promotes cooperation with transportation businesses in the city. Currently, EGCO Group is engaged in the charging station business through InnoPower Co., Ltd.