BCPG recognises that the industry
is moving from a centralised generation to
a distributed energy model where blockchain
technology will be crucial. Putting the power
of energy generation into the hands of
consumers, P2P trading opens up the market
to allow households to buy and sell excess
solar energy independent of a power
company, trading their energy for more than
the feed-in tariff while still undercutting
power providers. It’s a concept BCPG
President and CEO Bundit Sapianchai
believes is the future of energy.
“I spent many years working for a
number of big energy conglomerates – one
of them being the very first petrochemical
company in Thailand – but funnily enough,
I’ve now chosen to work with this small,
young company,” explains Bundit. The
executive describes his career progression as
going from black to green. After more than
35 years in the oil and gas power sector
working for companies including National
Petrochemical and PTT Global Chemicals,
he decided it was time for a change of pace. Bundit has
spent the past 10 years developing and promoting renewable
energy across Thailand through Bangchak Corporation
(formerly Bangchak Petroleum) and now BCPG. In
September 2016, he led the company to a successful IPO
on the Stock Exchange of Thailand.
“We are witnessing a transformation in the energy sector,
not only here in Thailand, but globally,” says Bundit. “It is
changing from a centralised market full of large corporations
into a distributed market with lots of smaller-scale players
and start-ups. We are also seeing traditional energy
consumers turn into what we call prosumers. They are
buyers of high-quality technology products, which includes
the production and consumption of their own energy.
BCPG is playing an active role in facilitating this change
and we have already doubled our market capitalisation
within a year. To create this ‘Internet of Energy’ we must
be diligent, tech-driven and always one step ahead.”
BCPG is also transitioning. “We are transforming our
model from wholesale to retail. We used to generate power
and sell to governments and big corporations. However, that
market value is now decreasing with the rise of the retail
market,” explains Bundit. “Going from a low-margin space
to a high-margin space will be an interesting challenge.”to comeHalf page advert
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