INNOPOWER is advancing its position in the RECs market with the “Decarbonization Partner” strategy, capitalizing on the continuous growth of the clean energy certification market aligned with global trends. The company aims to grow by over 38% in 2025, expanding its services from corporations to small and medium-sized enterprises (SMEs) and individual consumers to promote clean energy adoption across all sectors. By the end of 2025, INNOPOWER expects to contribute to a cumulative reduction of approximately 4 million tons of CO₂e since 2023.
2024 Achievements and Market Growth
Mr. Athip Tantiworawong, CEO of INNOPOWER Co., Ltd., revealed that the global push for a low-carbon economy and society has significantly boosted the renewable energy and green electricity certification market in Thailand, positively impacting the company’s performance. As of Dec 2024, INNOPOWER recorded a total revenue of THB 288.9 million, marking a 92% growth from the previous year, along with its first net profit, achieved a year earlier than anticipated.
This growth is attributed to three key solutions driving revenue:
1) Renewable Energy Certificate (REC) Trading
2) Energy Solutions, such as Solar EPC services
3) Mobility Solutions, such as Electric Vehicle (EV) Fleet services and comprehensive EV charging solutions.
These positive indicators show that the company is on the right track to seize opportunities and address challenges in the growing energy technology market.
2025 Targets and Strategic Expansion
For 2025, INNOPOWER targets total revenue of THB 400 million, a 38% increase compared to 2024, with plans to expand its business partnerships by over 30%. This includes targeting industrial estates to support a reduction of 1.5 million tons of CO₂e. Cumulatively,
since 2023, this would result in approximately 4 million tons of CO₂e reduction. The company remains committed to its “Decarbonization Partner” strategy, offering comprehensive end-to-end solutions to help clients achieve sustainable carbon reduction.
New Solutions and Strategic Launches
In January, INNOPOWER launched its Decarbonization Advisory and Services business, a key pillar supporting its strategy. This service provides in-depth consultancy on greenhouse gas (GHG) emission reduction, including GHG calculation, emission reduction strategy development, verification, and energy advisory services to help organizations achieve their carbon reduction goals effectively.
March 2025 will see the launch of the REC Aggregator, a platform for REC certification, catering to both individual users and businesses with Solar Rooftop installations. This platform enables participants to convert clean electricity generation into RECs, which can be traded in the renewable energy market, thus enhancing the value of clean energy usage. The company is collaborating with a network of business partners to expand awareness and accessibility to the platform, with the goal of making it available to the general public.
In addition, INNOPOWER is set to launch Carbon Credit Trading and Management services, leveraging its leadership in the REC market. By Q3 2025, the company will introduce the Carbon Credit Aggregator, acting as an intermediary to aggregate carbon credits from DC Charger electric vehicle charging and trade them in the carbon market.
The next phase of this initiative includes expanding to EV users, enabling them to convert every driven kilometer into carbon credits for sale. This approach aims to make clean energy more accessible and integrated into daily life, driving positive change beyond just business impact.
Commitment to Carbon Reduction and Market Leadership
“The expansion of decarbonization services to individual users will enhance competitive advantages in the rapidly growing energy technology market. Through the ‘Decarbonization Partner’ strategy, INNOPOWER is committed to leading the low-carbon
market and GHG emission reduction, empowering all sectors to participate in achieving sustainable Net Zero goals,” concluded Mr. Athip.
