Bangchak Petroleum president discusses alternative energy strategy

Prior to the end of his term as Bangchak Petroleum’s president, Anusorn Sangnimnuan revealed that the company will continue to focus on green energy technology, including products and power plants, through the next decade. “Geothermal power is one of the green technologies that uses heat in the earth to produce electricity. This technology will suit a country that has heat inside the earth or a volcano. This does not match with Thailand’s geography. But we can invest in an ASEAN country such as Indonesia or the Philippines,” Anusorn said during a site visit to the Mori Geothermal power plant in Hokkaido, Japan.
Anusorn explained that the company is looking at alternative energy technology, power plants in particular, because it is part of Bangchak Petroleum’s strategy, which is aimed at balancing its business portfolio in the long term. The company has also invested in solar farms in several provinces in Thailand, including Chaiyaphum, Buri Ram and Ayutthaya.
Bangchak Petroleum’s capital expenditure budget for 2013 is THB15 billion (US$503.6 million). Out of the total investment, THB3 billion (US$100.7 million) will be used to expand its nationwide retail network, and THB6 billion (US$201.4 million) will be used to upgrade its refinery. Another THB6 billion (US$201.4 million) will be used to build a solar power plant.
Internal cash flow and debt (bank loans and debentures) will be used to finance its capital expenditures. (December 10, 2012)