Bangkok – Banpu Public Company Limited (BANPU), a leading international diversified energy company, announced its first-half 2024 operating results with total sales revenue exceeding USD 884 million, and a net profit of USD 24.89 million. The company continues to focus on enhancing operational efficiency and cost control measures, advancing decarbonization efforts, and leveraging digital technologies to elevate its operations, while also prudently allocating investment budgets to ensure long-term stability.
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Mr. Sinth Wongkusolkit, Chief Executive Officer of Banpu Public Company Limited, stated, “We’ve made progress in decarbonization through our Carbon Capture, Utilization and Sequestration (CCUS) project in the U.S., resulting in Carbon Sequestered Gas (CSG), which reduces greenhouse gas emissions across Scopes 1, 2, and 3.”
Mr. Sinth also emphasized the company’s drive to leverage digital technologies and AI to enhance operations across all business groups (Digitalization), aiming to improve efficiency and create added value within Banpu’s ecosystem. The company also focuses on effective infrastructure and logistics management, and expanding sales and marketing opportunities to reduce costs and increase competitiveness, particularly for its energy resource businesses in Indonesia and the U.S.
Performance Highlights
- Energy Resources Group: Maintains focus on production efficiency to sustain cash flow generation, targeting cost reductions in the mining and natural gas businesses.
- Energy Generation Group: Continues to deliver strong profits, notably from Temple I and II natural gas power plants in the U.S., which saw significant revenue growth.
- Energy Technology Group: Progresses in expanding its solar rooftop power generation business, battery and energy storage business, and e-mobility business.
Strategies for Sustainability
Banpu remains committed to reducing greenhouse gas emissions. BKV, its U.S. subsidiary, has signed agreements for carbon-neutral natural gas sales, and the 2.5 MW Ponder Solar power plant is scheduled to begin commercial operations in August 2023.
“With Banpu’s well-rounded energy portfolio, balancing traditional and new forms of energy in the Asia-Pacific region,we aim for each business group to enhance operational efficiency for stable returns, create sustainable value for stakeholders, and contribute to a better world every day,” Mr. Sinth concluded.
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