Thailand's Largest Cement Manufacturer Siam Cement Grp Plans $3 Bn Investment in Renewables
- SCG has actually specified in its financial investment intends that it will be spending 100 billion baht or $2.89 billion until 2027 end in venues like renewable energy.
- Siam wishes to produce 3,000 MW of solar power by 2027 which is 15 times greater than the present capacity.
The biggest building materials gamer of Thailand-- Siam Cement Group (SCG)-- has currently generated a comprehensive financial investment prepare for the coming 5 years. The key attribute this moment is that it has unique focus on the environmental aspect of the businesses of SCG as well as the company aims to aim faster in the direction of the work of renewable energy to move the here and now business style of SCG to a 'circular' one.
SCG has actually especially announced in its investment plans that it will be spending 100 billion baht or $2.89 billion until 2027 end in venues like renewable energy. This will remain in addition to the recurring efforts by Siam Cement for decarbonisation of its chemicals services and main building materials.
The financial investment plan exposes that SCG is heading towards solar energy generation as well as lithium-ion batteries producing for electric vehicles. This is targeted at enhancing the setting of SCG in producing materials of both markets.
Regarding the green electrical power is worried from the solar source, Siam wants to include 3,000 megawatts (MW) by 2027. This implies that the business wishes to expand the solar energy to almost 15 times from the present solar capacity.
The manufacturing of cement and petrochemical items by the very nature of existing technologies as well as procedures produce greenhouse gases in big quantities. SCG wishes to adopt a circular service process that would have focus on recycling, lowering greenhouse gas emissions as well as generating such products that will certainly have little or no environmental impact. The present business structure of SCG is not most likely to accomplish sustainable development.
The cement maker revealed in March, 2022 that it intends to have 30 per cent of energy consumed ahead from sustainable resources of energy. Additionally, it has the passion of accomplishing net zero greenhouse gas emissions by 2050.
In September, SCG partnered with Nomura Research Institute of Japan to comprehend the carbon dioxide emissions from its distribution network. Subsequently, it bought Rondo Energy to establish and increase the work of Rondo's Heat Battery (RHB) innovation to enhance decarbonisation of its businesses.