Latest news with #Banpu
Bangkok Post
04-07-2025
- Business
- Bangkok Post
Banpu Shares Indonesia Investment Insights at Forum
Bangkok, July 4, 2025 – Indonesia's expanding energy market and strategic economic role continue to draw forward-looking investors from across the region. Amid rapid development and rising domestic energy demand, the country presents compelling opportunities for businesses with a long-term vision and commitment to sustainable growth. These themes took centre stage at the Indonesia Investment & Trade Forum 2025, where Banpu Public Company Limited shared its success story and investment outlook in the Indonesian energy sector. Mr Sinon Vongkusolkit, Chief Executive Officer of Banpu Public Company Limited, participated as a speaker at the forum, which was jointly organised by Bangkok Bank and Indonesia's Permata Bank. As a company recognised for its successful operations in Indonesia, Banpu offered insights into investing in one of the region's most promising and strategically important markets—economically, socially, and environmentally—while also laying the foundation for next-generation energy ventures. During the session, Mr Sinon expressed Banpu's confidence in Indonesia's abundant energy resources and the strong partnerships that enable mutually beneficial outcomes. He also noted the country's dynamic energy sector growth, supported by increasing domestic demand and the evolution of energy-related technologies and innovations. Stay informed on Banpu's latest news and developments at or
Bangkok Post
04-07-2025
- Business
- Bangkok Post
Banpu sinks B2.37bn into joint venture
Energy conglomerate Banpu Plc has spent A$110 million (2.37 billion baht) on a joint investment in energy storage development in Australia, seeking to benefit from the country's rapid transition to clean energy and expand the company's renewable energy business. Also known as battery energy storage systems (BESS), this equipment serves as an electricity backup to ensure a steady supply to businesses and households produced by renewable sources. Solar and wind are intermittent sources of power, as production from these sources depends on weather conditions and the season. Solar and wind farms require batteries in order to store electricity for use when they are not able to generate power. "The Australian energy market is undergoing a rapid transition. That's why BESS is playing an important role in providing continuous and stable energy," said Sinon Vongkusolkit, chief executive of Banpu. Banpu, through its wholly-owned subsidiary Banpu Energy Australia Pty, has acquired a 50% share in the Wooreen Energy Storage System project, with the other 50% belonging to Energy Australia, one of three key electricity retailers in Australia's national electricity market. Total investment in the project stands at A$700 million (15.1 billion baht), which comprises the two companies' investment budgets, along with bank loans. The Wooreen Energy Storage System project, which is located in the Latrobe Valley region of the State of Victoria, is designed to have an electricity carrying capacity of 1,400 megawatt-hours. This will enable the facility to supply power to 230,000 houses continuously for four hours during peak demand. The project, which will support the establishment of a clean energy grid, is embedded with artificial intelligence technology, which allows it to analyse data to determine when to store or supply electricity to the grid. The facility is under construction and is set to commence operations in the second half of 2027. At this point, Banpu will begin to recognise revenue from the project, said Mr Sinon. The project is expected to rack up revenue from energy market volatility. Banpu is pushing ahead with projects that focus on renewable energy development in order to cut its share of earnings from trading in coal.
Forbes
01-07-2025
- Business
- Forbes
Thai Billionaire Vongkusolkit Family's Banpu Buys Stake In Australian Energy Storage Project
Banpu has been investing in renewable energy such as solar and wind power to achieve its net zero ... More goal by 2050. Thai energy company Banpu—controlled by the billionaire Vongkusolkit family—is buying a 50% stake in a A$700 million ($460 million) energy storage project in Australia, as the Bangkok-based coal producer scales up investments in clean energy. The Wooren energy storage project, located in Latrobe Valley, Victoria, will have a power output of 350 megawatts and a storage capacity of 1,400 megawatt-hours when completed by the second half of 2027. It will be capable of supplying electricity to up to 230,000 households continuously for four hours, enabling it to supplement supply during times of peak demand. Banpu Energy Australia, which will inject an A$110 million into the project, will build the facility in partnership with EnergyAustralia, which will be the sole off-taker of Wooren's electricity. 'We believe that BESS (or battery energy storage systems) will play a critical role in supporting clean energy infrastructure,' Sinon Vongkusolkit, CEO of Banpu, said in a statement released on Monday. He added that its investment in green energy would help Banpu achieve its goal of cutting its greenhouse gas emissions by 20% by 2020 and reach net zero target by 2050 Outside its home market of Thailand, the company operates in Australia, China, Indonesia, Japan, Laos, Mongolia, Vietnam and the U.S. Besides their stake in Banpu, the Vongkusolkit family also has interests in privately held Mitr Phol Group, one of Asia's largest sugar producers, and listed property developer Erawan Group, which has over 90 hotels including the Grand Hyatt in Bangkok. With a net worth of $1.3 billion, the family is among the wealthiest in Thailand.
Bangkok Post
01-07-2025
- Business
- Bangkok Post
Banpu Invests in 350MW Battery Project in Australia
Banpu Public Company Limited, a versatile energy company, has announced that its wholly owned subsidiary, Banpu Energy Australia Pty Limited (BEN), has signed an agreement to acquire a 50% interest in the Wooreen Energy Storage System (WESS) project. The remaining 50% is held by EnergyAustralia. Located in Latrobe Valley, Victoria, Australia, the project will have a power capacity of 350 megawatts and a storage capacity of 1,400 megawatt-hours. The WESS project will be capable of supplying electricity to up to 230,000 households continuously for four hours during peak demand. With a total project value of approximately AUD 700 million (equivalent to THB 15,105 million), BEN's equity contribution amounts to around AUD 110 million (THB 2,374 million). Currently under construction, the project is expected to commence operations and begin generating revenue in the second half of 2027. This investment represents a significant milestone in the expansion of Banpu's 'Renewables+' portfolio, which encompasses renewable energy and related businesses under the company's Energy Symphonics strategy. Mr Sinon Vongkusolkit, Chief Executive Officer of Banpu Public Company Limited, said, 'Australia's energy market is undergoing a rapid transformation in power generation. Battery energy storage systems (BESS) are crucial for ensuring supply reliability, integrating clean energy into the grid, and generating revenue from market fluctuations. BESS stores energy from various sources and uses AI-powered software to analyse data, helping to determine the optimal times to store and discharge electricity into the commercial grid.' Banpu's BESS investment aligns with its Renewables+ strategy to build large-scale pipelines of renewable assets — including BESS — in key global markets. The initiative also features long-term portfolio optimisation in response to evolving energy trends, ensuring efficient management in strategic countries where Banpu operates. The project includes a long-term offtake agreement with EnergyAustralia, a leading electricity generator and retailer, ensuring stable revenue generation. 'In the transition towards sustainable energy, we believe BESS will be vital in supporting clean energy infrastructure and will serve as a driving force for Banpu's Energy Symphonics as we progress towards reducing greenhouse gas emissions by at least 20% by 2030 and achieving Net Zero by 2050,' Mr Sinon concluded.
Nikkei Asia
18-05-2025
- Business
- Nikkei Asia
Thailand's Banpu and CP turn to Japan 'deep tech' for sustainability
BANGKOK -- Some of Thailand's biggest corporate groups are partnering with Japanese startups to improve sustainability, as the country seeks to speed up carbon emissions cuts. Japanese startup Algal Bio, which sprang from the University of Tokyo, has signed a joint research agreement with Thai coal producer Banpu on capturing carbon dioxide with microalgae.
