Message from the CEO

Mr. Prachai Leophairatana
Chairman of the Board
TPI Polene Power Public Company Limited

Dear Shareholders,

   “Towards ESG to reduce greenhouse gas emissions for sustainable development”




TPI Polene Power Public Company Limited (“Company”), is a leading operator of Municipal Solid Waste (MSW)-fired power plants in Thailand, with the largest and most successful waste-to-energy power plant operations in the country and in the ASEAN region. It is the largest municipal waste disposal plant in Thailand and also the largest single-location municipal waste disposal facility in the world.


Throughout the past, the Company has been one of the leading organizations focusing on sustainable growth by linking the Sustainable Development Goals (SDGs) with corporate strategy to grow in all areas, including on economy, environment and society. The Company emphasizes corporate governance (Environmental Social Governance: ESG) in order to manage the business for the benefit of all stakeholders in a balanced manner.

Strong earnings growth


The COVID-19 pandemic around the world has affected economic activities and resulted in higher raw material costs; however, the company was still able to maintain its maximum capacity utilization rate as targeted. In 2021 the Company and its subsidiaries registered total sales revenue of Baht 11,074 million, close to Baht 11,119 million in 2020. The net profit in 2021 was Baht 4,191 million, a decrease of 6.98%, compared to a net profit of Baht 4,506 million in 2020.


Target TPI Polene Group to be a Net Zero Greenhouse Gas Emission Producer


The Board of Directors and the management follows a policy conducting business to achieve a Net Zero Greenhouse Gas Emission. TPI Polene Group always pledges its commitment to continuously pursue and research innovations for its power plants to enhance maximum efficiency to serve the need for clean power energy and reduce energy from fossil fuels. This is part of our commitment to the preservation of the environment. TPI Polene Group aims to be a Net Zero Greenhouse Gas Emission Producer by using 90-100% of the company's waste fuels, instead of fossil fuels, in its power production and using 30-40% of waste fuel in the cement plants of TPI Polene Plc. The Company also implemented environmental-friendly low-carbon production processes that helped eliminate the PM 2.5 problem and the overall global warming problem caused by greenhouse gases, and waste problems in communities. This was  a response to the government’s policy which made its international commitment that Thailand would fully raise the level of its climate response in order to achieve Thailand's goal of net zero greenhouse gas emissions by 2050. In addition, the Company aims to be the country's community waste disposal plant to tackle climate change due to the greenhouse effects.


By the end of 2021, the Company was certified by TGO of the amount of greenhouse gas reductions (carbon credits) from the project to use community waste as fuel, amounting to 59,526 tons of carbon dioxide equivalent. The Company is in the process of being registered with TGO (for the project to use waste as fuel) to certify the amount of greenhouse gases that have been reduced (carbon credits) for approximately 709,752 tons of carbon dioxide equivalent.

In 2021, the Company reduced greenhouse gas emissions by 5.08 million tons equivalent (registered carbon credits were in the process of being approved by TGO) from the amount of waste that has been sorted for use as fuel, about 2.19 million tons.(reducing landfills which leads to greenhouse gas emissions).


The largest single-location disposal facilities in the world which helps eliminate COVID-19 infected waste


The company focuses on growing in the clean and green energy power generation business, along with environmental conservation using Municipal Solid Waste to generate power which is continually helping to reduce the amount of waste in the country. This is in line with Thailand's energy management development plan and is in response to the government's inteniont to urgently focus on solving urban waste problems. In 2021, the company didposed solid waste infected with COVID-19, in a total amount of 3,892 tons. The Company  burned this waste properly every day during  the COVID-19 pandemic.


In 2021, the Company opended a MSW-fueled power plant, Plant No.2, with 4 additional production lines (Production line 10-13) and installed capacity of 2,400 tons of MSW fuel per day to sell the quality-improved MSW fuel produced to cement plants to be used, instead of coal, in the cement production of TPI Polene Public Company Limited. This led to an increase in the Company's installed capacity of MSW fuel totaling 7,200 tons per day in 2021, which is equivalent to the amount of MSW disposal of approximately 14,400 tons per day, making the Company the largest single-location community waste disposal plant in the world. The Company's waste fuel plants were able to dispose of 2.19 million tons of municipal waste in 2021.


In 2022, the Company planst to operate another waste fuel production plant, Plant No.3, with 5 additional production lines (Production line 14-18) with installed capacity of 4,500 tons of MSW fuel per day to feed waste fuel for the Company's coal-fired power plant (TG7), which will switch from using coal fuel to 100% waste fuel. This will result in the Company having a total installed capacity of 11,700 tons of waste fuel per day, which is equivalent to the amount of waste disposal of 23,400 tons per day.


In addition, in 2025, the Company will launch a project to improve its power plant (TG8) to switch using coal as a fuel to using 90-100% waste instead,  which will enable the Company to produce power from waste fuel, which is clean energy.



Joining forces to help society, our communities, and our employees


TPI Polene Power Public Company Limited joined forces to alleviate the suffering of society, our communities, and our employees from the spread of COVID-19 in 2021 and launced other social assistance projects, totaling approximately Baht 126.04 million, which can be summarized as follows: Supported the Respiratory Extension Project to purchase “High-flow machines” for the Siriraj Foundation; supported the purchase of a mobile X-ray truck for Chana Hospital, Songkhla Province to help village visit initiatives in the South; supported the purchase of a high-flow oxygen machine, a Powered Air Purifying Respirator (PAPR), a negative pressure stretcher, and an ISOLATOR, etc., for Songkhla Provincial Public Health Office to be used in 6 hospitals, namely Jana Hospital/ Somdet Na Nathawi Hospital/ Thepha Hospital/Saba Yoi Hospital/ Sadao Hospital/ Padang Pesar Hospital and supported the purchase of a  mobile vehicle for Songkhla Nakarin Hospital, Faculty of Medicine, Songkhla Nakarin University; donated TPI Polene bio-sanitary products to medical personnel, front line staff, and COVID-19 patients, at Siriraj Hospital, 14 hospitals and field hospitals in Saraburi Province, and police hospitals; supported TPI boards to build shower rooms for Busarakham Field Hospital (Muang Thong Thani); supported the construction of a field hospital at Lerdsin Hospital and supported the purchase of  31,000 boxes of rice to give to medical personnel at the Central Bang Sue Vaccination Service Center including providing rice, dry food and bio-sanitary products from the TPI Polene Group to the Songkhla Provincial Administrative Organization and people in the areas of Na Thap, Taling Chan, Sakom and Chana, Songkhla Province.


TPI Polene Group also provided testing equipment for all employees to get tested for COVID-19 including the provision of vaccines against the coronavirus for all employees and provided a set of TPI Polene bio-sanitary products for employees and their families continuously so that they had good health and immunity against COVID-19.


Continuing to invest in the construction of selected MSW-fired power plants


In 2021, the Company was selected to implement MSW-fired power plant projects in Songkhla (7.92 MW) and Nakhon Ratchasima (9.9 MW) Provinces with a total power sales volume of 17.82 MW, and disposal fees, for a period of 20 years. Currently, the company is in the process of preparing an environmental impact assessment report, together with having the power plant contractor company survey the area to design the power plant construction. It is expected that construction will begin in the second quarter of 2022 and will take approximately 2 years to complete.


In addition, the Company has a standing policy to seek new opportunities to invest in the MSW-fired power plant projects. The government will set conditions for the private sector to participate in the bidding process under the Power Development Plan (PDP) of the country and according to  government policy.


Investment development project in the coastal areas of ​​Songkhla Province


Due to security problems in the four southern border Provinces, the Southern Border Provinces Administrative Center (SBPAC) asked the Company to help develop the economy in Chana District, Songkhla Province, to help bring about peace in the South by improving the well-being of people in Songkhla and in the four southern border Provinces in the same way that Thai Petrochemical Industry PCL. helped develop the eastern coastal area under the leadership of General Prem Tinsulanonda 40 years ago. This issue was passed through the National Security Council and the SBPAC held meetings with various groups in the lower south and the Cabinet finally issued a resolution of the approval of Chana District, Songkhla Province as a Special Economic Zone (SEZ).


As a result of the experience of the Company's executives who initiated investment projects in the Eastern Seaboard which is the starting point for driving the economy of Thailand, the income of the population in Rayong is consistently high, and all dimensions of the industry, namely upstream, mid-stream and downstream continues to grow today. The Company therefore has an idea to invest in the Southern Seaboard Development Project or Prototype City of Advanced Futuristic Industries (PAFI) in Chana District, Songkhla Province, with an investment value of approximately Baht 300 billion to develop:

  1. Future Industrial Estate Project and agricultural industry (excluding the petrochemical industry) will create added value for agricultural crops in the South especially the rubber processing industry which will increase the value of rubber, instead of exporting raw rubber which has a low economic value. In addition, various waste that occurs in industrial estates will be disposed of and used as fuel for additional power generation.
  2. “Zero Pollution Clean & Green Energy” Power Plant Project is a clean energy power plant (no fossil fuels, no pollution) initiative which uses natural gas, biomass, and other renewable energy sources as a clean fuel for power generation.
  3. A deep seaport and a distribution center will be constructed to create a transportation network for the future of export and import goods including the development of public utilities in the area for maximum benefit.
  4. A smart city building project will be managed with modern technology to be a health center and economic and financial center.

These projects will improve the well-being of people in the South and nearby areas. This is in line with the government's policy to develop special economic projects in the southern region to strengthen security through industrial promotion, export and import of goods, and employment.

The Company is ready to continue investing in the Southern Seaboard Development Project or Prototype City of Advanced Futuristic Industries (PAFI) in Chana District, Songkhla Province as a part of the national security policy and to increase the potential for economic, social and resource utilization for maximum benefits. This will help  minimize environmental impact both on land and at sea and will take into account all stakeholders to improve the economic and  societal conditions in the southern border Provinces.


Awards that made us proud

TPI Polene Group is committed to its policy of driving business towards sustainable development, keeping balance in the environment, reducing greenhouse gas emissions which cause global warming. It also focuses on social responsibility and achieves good corporate governance by adhering to its business ethics, preventing conflicts of interest, practicing anti- corruption, and managing organizational risk. It also conducts business with fairness to all stakeholders, such as prioritizing the occupational management system, and the health and safety of employees and stakeholders with a commitment to improve well-being and prevent hazards, including promoting safe working environment against COVID-19. This also includes the practice of human rights principles during hiring and taking care of employees so that they feel connected as a family within the organization. In addition, the company is committed to cooperating with all suppliers in accordance with the supplier's sustainability practice guidelines.

With determination and by focusing on work processes that create sustainable growth, in 2021 the Company was granted the Green Industry Certificate Level 4 for its power plants by the Ministry of Industry. This is another step toward the economic development of Thailand through the promotion of the industrial sector to conduct business that is environmentally and socially friendly to build a green economy. This will make the country's green gross domestic product (Green GDP) higher. It is a great honor for the group of companies to have a factory that received Green Industry Certificate Level 4 by passing  “Green Culture” criteria.

The Company was also named one of Asia's Most Influential Companies 2021 and received the Asia Corporate Excellence & Sustainability Awards (ACES) organized by the MORS Group, a media organization from Malaysia. The company was one of the three companies in Thailand that received this award in the category of organizations that specialize in waste-to-energy power planst. It is also a company that has a business model in accordance with Bio Circular Green (“BCG”) and Environmental Social Governance (“ESG”) guidelines. In addition, the Company, the largest waste-to-energy power plant in the ASEAN region, has been awarded the Most Innovative Initiative Towards Waste Processing Plant 2021by International Finance Magazine (IFM), the leading global business and finance magazine.

In addition, the Company was included on the ESG100 Sustainable Securities List for 2021, and recognized as an outstanding organization for environment, social, governance and sustainable growth by the Thaipat Institute. In addition, the company received the ESG -Performance Award at Gold Level from the Thaipat Institute, which measures 30 ESG indicators from WFE ESG Metrics of the World Federation of Exchanges in 2021.


On behalf of the Company, the Company’s Board of Directors would like to take this opportunity to thank all related parties for their ongoing support and trust in the Company to create continuous progress for the organization,  to motivate the management team and all levels of the Company’s staff to overcome obstacles, and to achieve the goals of building stability in the organization with integrity, enhancing the economic strength of the country, supporting the public well-being and consistently protecting the surrounding environment to further enhance the sustainable growth of the country.


      Sincerely Yours,


Mr. Prachai Leopairatana




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