Bangkok, GPSC reveals operating results for the 1st quarter of 2024. Net profit grew 81% from the 4th quarter of 2023, reflecting progress in the plan to increase management efficiency as targeted. Moving forward with expanding power production capacity, the Glow SPP 2 and IRPC Clean Power Phase 3 projects have already opened for commercial operation. Mr. Worawat Pittayasiri, Chief Executive Officer and President of Global Power Synergy Public Company Limited or GPSC, the innovation leader in the electricity business of PTT Group, revealed the company's 1st quarter 2024 operating results. Total revenue was 23,773 million baht, an increase of 30%, and net profit was 864 million baht, an increase of 81% compared to the 4th quarter of 2023 (QoQ), respectively, which was a result of the operation of small power plants (SPPs). ) with the volume of electricity sold to industrial customers increasing. In the same period that income Can better reflect energy costs and the operating results of Avada Energy Private L imited (AEPL), India, which increased due to the number of projects gradually opening for commercial operation and seasonal factors. Even though the company will receive a reduced share of profits from Xayaburi Power Company Limited (XPCL) from the reduced water volume Compared to the 1st quarter of 2023, net profit decreased 23% due to lower margins of Sriracha Power Plant. This is because the Sriracha Power Plant operates using diesel as the main fuel instead of natural gas. According to EGAT's electricity billing plan, in addition, the Company's operating results of small power plants (SPP) increased due to electricity prices that better reflected the cost of energy prices than the previous year. for the progress of the business driving plan and production capacity expansion During the first quarter until now according to plan The Glow SPP 2 power plant under the SPP Replacement project has a production capacity of 100 megawatts, producing 230 tons of steam per hour. And the IRPC Clean Power Project, Pha se 3, with an electrical generating capacity of 70 megawatts, has already begun COD at the beginning of this year. In addition, GPSC's bonds with an offering value of 15,000 million baht have been accepted. Excellent in offering to institutional investors and large investors. For the New S-Curve strategy, the company recently signed a contract to study the feasibility of developing a small SMR (Small Modular Reactor) project together with a partner who has the potential and owns technology from Denmark. To seek opportunities in the development of new clean energy technologies and innovations. To prepare for environmentally friendly electricity production. For the main business, the company is still committed to increasing the efficiency of management in the production process or Optimization by giving priority to the production of electricity from low-cost power plants as the first priority or merit order in order to make the production cost most efficient. Including the implementation of Synergy to ensure maximum efficiency in asset management. and create the best returns. Source: Thai News Agency