PTT Group was invited to attend G-20Y Summit 2015 in France, with GPSC President as delegate to present strategies for World Energy Markets
Mr Noppadol Pinsupa, President of Global Power Synergy Public Company Limited or GPSC, represented PTT Group at G-20Y Summit 2015 in France. PTT Group was one of the 90 participants invited to join G-20Y summit 2015, chosen from a pool of 300-400 candidates. It was the only organization from Thailand and Southeast Asia region to be selected.
G-20Y is a private organization with an aim to create a network of corporate executive leadership positions from leading organizations around the world, G20 countries, and their sectors. The G-20Y Generation represents successful young executives and leaders from world leading companies, NGOs, and government organizations who play an important role in setting the direction and trends of the world in various aspects. They are from G20 countries and others, gathering to make recommendations and design our world.
At the G-20Y Summit, delegates prepared and discussed six topics, namely Energy Markets, Food Security, Global Financial Industry, Global Demographic Development, Creating Jobs, and Digital Innovation and Transformation. After discussion, recommendations were made by each committee, and disseminated across the world and shared, in particular, with the G-20 Heads of States and leading international organizations such as IMF, World Bank, UN, OECD, other associations.
Mr Noppadol Pinsupa was chosen to be in the Energy Markets Committee, joining other representatives from organizations such as Enel Green Power, Shell, DP World, The Linde Group, Mitsubishi Hitachi Power Systems Americas Inc., Mitsubishi Heavy Industries Inc., South Australia Department of Treasury and Finance, Legislative Strategies and Relations with Authorities (Eni S.P.A., Italy), and Provincial Government of Walloon-Brabant (Termeca, Belgium). The Energy Markets Committee discussed and exchanged views to reach recommendations on topics related to the world’s energy markets, such as climate change as a result of carbon dioxide emission, promoting efficient investments in energy, and access to energy. The committee believed that providing 1.3 billion people access to electricity and modern energy services is an important social right as it increases standards of living and leads to improved health outcomes and well as better economy of the world. The committee recommended that each country considered the access to energy of its people, as accessibility and potential are different in each of the countries.
The Energy Markets Committee recommended 1) Adopting new technology in electricity systems such as distributed generation, storage, and energy management systems, 2) Utilizing the decline in solar power costs and the advancement in battery technology to provide increased energy access, 3) Actively developing dedicated financing mechanisms to promote the scaled investment in this field, and 4) Promoting cross industry partnerships that create synergies and improve project viability, such as telecommunications and agriculture industry.
Mr Noppadol said that from the participation at the G-20Y summit 2015, it was apparent that the energy storage strategy that GPSC is investing in researching and developing company is called for around the world and is of extreme importance now. They are among the World Mega Trends which receive a lot of attention globally. The construction of fossil fuel power plant and electricity distribution system today and in the future must keep in mind the social, environmental, and climate impacts. Meanwhile, renewable energy plants must expand its electricity generation hours and improve its stability. Therefore, battery technology is the key to the growth in those directions. The battery technology that the company emphasizes must be recyclable and environment-friendly, which will help elevate the quality of life for the global population.
Access to energy by battery technology is one of the key strategies of GPSC. The company has invested in businesses other than electricity and public utilities. It has co-invested with 24M Technology Inc, USA. whose core business is to research and develop new Lithium-Ion Energy Storage System and Battery. Energy storage can be one of the answers to the growing demand for electricity around the world. The global population has the right to access electricity for better human well-being. As the cost for alternative energy such as solar power decreases, it is a good opportunity to make use of alternative energy and battery technology to provide electricity to a wider group of people. Additionally, GPSC is investing in Energy Service Company (ESCO) which offers full services in energy conservation and efficiency enhancement. And GPSC international investment is focusing on electricity distribution network in lacking areas, that would allow more people to access to electricity and increase their well-being.