Innovation in Product and Service Development
Importance and Mission
The significance of developing renewable energy technology and innovation: The Group places a critical focus in addressing the rapidly changing business environment, which is characterized by intense competition and constant transformation. The Group emphasizes improving efficiency, sustainability, and competitiveness as it transitions to a global clean energy economy. Innovation is a key strategy for driving continuous and sustainable growth. The Group leverages advanced technologies to enhance energy production efficiency, reduce operational costs, and contribute to achieving national and global targets for carbon neutrality by 2035 and net-zero emissions by 2050, both at the national and international levels. Clean energy is central to achieving these objectives.
SDGs in the Supply Chain Management
Goals and Performance Highlights
Goals
Continuously promoting annual innovation competitions to encourage employee engagement in problem-solving and process improvement, with a goal of providing 100% of employees with training in innovation and technology by 2026.
Establishing strategic partnerships, such as with the National Innovation Agency (NIA), to access emerging technologies and best practices, as well as supporting collaborative innovation projects with university students to expand knowledge and understanding of renewable energy.
Aiming for at least 50% of the group’s new projects to target a 15% reduction in energy production costs through innovation and operational process improvements, while aligning innovation KPIs with ESG performance outcomes.
Performance Highlights 2024
Developing Innovation Skills and Capabilities for Employees - The Group has actively fostered innovation within its workforce through the workshop “Innovation to Infinity and Beyond 2024.”
Building an Innovation Network - The Company has adopted an Open Innovation strategy, welcoming ideas, technologies, and resources from outside the organization to co-develop innovations with internal resources.
Management Approach
The Group's Goal To embed innovation as a core capability throughout the organization to continuously advance renewable energy technologies, improve operational efficiency, and sustain competitive strength. Innovation will be integrated as a core capability at every level of the organization through the following strategies:
01
Instill Innovation as Part of the Organizational Culture and Employee Mindset – Establish internal innovation development programs to encourage employees to actively participate in creating and testing new ideas. This will include an ongoing annual innovation competition to motivate employees to solve problems and improve work processes. By 2026, ensure that 100% of employees receive training on innovation and technology, with continuous knowledge-sharing opportunities.
02
Foster Collaboration and an Open Innovation Ecosystem –– Build strategic partnerships (e.g., NIA, universities) to access knowledge and innovation development processes within the organization and broader innovation networks. This also includes supporting co-innovation initiatives with university students to expand understanding of renewable energy and embrace fresh perspectives from younger generations by 2026.
03
Align innovation KPIs with ESG goals, ensuring measurable impact on carbon reduction, energy efficiency, and sustainable growth – Set a goal that at least 50% of the Group’s new projects incorporate advanced energy technologies by 2035. Target a 15% reduction in energy production costs through innovation and process improvements. Also, adjust innovation KPIs to align with ESG performance, ensuring that every new project contributes to reducing greenhouse gas emissions, improving efficiency, and supporting sustainability objectives.
