Develop integrated renewable energy, deliver the value to global society for sustainability.

The climate change makes people and industrial sectors in many countries aware of the greenhouse gas problem. This leads to cooperation in the development of clean energy that is environmentally friendly and meets the future energy demand. The business sector must take part of environment stewardship. This is reflected in the increasing of overall global electricity production from renewable energy sources every year.

As for the renewable energy power plant industry in Thailand, there is a trend of expansion according to the direction of global energy development that focuses on generating electricity from renewable energy to take care of the environment. The government has a policy to create energy security following the economic growth by promoting the production of electricity from renewable energy in all sectors according to the 20 year National Strategic Plan 2018-2037, Revised Edition No. 1 (PDP 2018 Revision 1), and the Renewable Energy and Alternative Energy Development Plan 2018 – 2037 (AEDP 2018) by increasing the total renewable power generation target to 29,411 megawatts by 2037. This helps support the renewable energy business sector to grow according to the PDP plan and the AEDP plan. The power capacity for each type of clean energy power plant has been increased, including the policy on the purchase price of clean electricity, which is currently under the Feed-in Tariff (FiT), reflecting the actual cost of the power plant project from each type of fuel. The purchase period is based on the long-term power purchase agreement (contract period of 25 years).

However, the PDP and AEDP plans are likely to increase the competition in the business, particularly for renewable energy producers because there are many operators expanding their production capacity, from both the existing and new operators.

Based on the experience and expertise of CV in biomass power plant project development, including engineering design and construction of renewable energy power plants (EPC turnkey) for more than 16 years, and the Group's experience and expertise in construction technology, machine operations, and maintenance of power plants making the Group have an understanding of design techniques, technology selection, and providing machines and equipment to work together effectively. Construction and operation cost management are considered to be the Company's strengths in power plants operations with efficiency and increase competitiveness in the future.

On behalf of the Board of Directors, management, and employees, I would like to thank the shareholders, alliances, business partners, customers, government and related agencies, as well as financial institutions, that have always given confidence and trust in the Company. CV is committed to the good governance, business code of conduct with social and environmental responsibility.

Mr. Prasert Bunsumpun
The Chairman of the Board