Thailand's Bangchak sets sights on geothermal power

Focus on green energy technology.

Bangchak Petroleum has vowed to observe this strategy with its products and power plants for the next decade.

The Thai group is looking to invest in geothermal power, which does not match with Thailand's geography. But it is looking st the possibility of investing in an Asean country such as Indonesia or the Philippines," according to company president Anusorn Sangnimnuan during a site visit to the Mori Geothermal power plant in Hokkaido, Japan early this week.

Anusorn explained said the company is studying alternative energy technology as part of its strategy to balance its business portfolio in the long term.

Although the cost of geothermal power is still higher than from other types of power plants, the company is preparing for the future when the price of electricity rises to cover the cost.

The company has also invested in solar farms or Sunny Bangchak in upcountry Thailand such as Chaiyaphum, Buri Ram and Ayutthaya.

"We have to expand our new business to balance our portfolio from oil refinery and gas stations to ensure sustainable growth of our business in the long term," he said

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