In 2024, we faced significant economic headwinds, including geopolitical tensions, and evolving consumer preferences. Despite these challenges, we remained steadfast in our commitment to transformation and growth. Our strategic refocus on high-value-added ingredients and food products has positioned us well for the future, driving a portfolio shift that will see over 70% of our products in this category by 2030.
We pushed on in 2024 with our regional expansion plans to roll out a more balanced and diversified footprint of products and portfolio. Our new sustainable Cambodia green field investment project has been completed and now set to be fully optimized by early 2025. In Q4, we were awarded the FSA Gold Award from the SAI Platform for cultivating and scaling sustainable agriculture practices in Thailand for over 1,000 tapioca farmers in Rayong, Thailand. Our solar energy plans continue as we target that 50% of our Company will be powered by renewable energy within the medium term of 2026 to 2027. Regionally, the execution of our commercial plans has enabled strong double-digit growth for our high-value-added ingredients.
Thai Wah also sustained our Baht 10 billion in sales revenue despite the macro challenges from climate and economy in 2024. This achievement is the fruit of the strategy designed to transform towards food and high-value-added B2B ingredients. As the next phase of our transformation journey begins, we will continue to accelerate investments in new ventures and strategic partnerships with leading food companies. All these efforts are testament to the Company’s transformation strategy in deepening our local sales, marketing, and technical development capabilities with regional offices and R&D labs.
Despite the challenges faced in the past year, fulfilling our promise to our consumers remains our top priority, and we continued to work diligently to achieve this. Additionally, we have concentrated on enhancing cost efficiencies across our eight starch factories. Our initiatives include streamlining operations, restructuring the organization, and implementing various cost-saving measures. These efforts are anticipated to yield positive results in 2025. Thai Wah continued to lead the market for tapioca food products in China and have strengthened our presence in the Middle East, North America, and APAC with our Rosebrand and the launch of our Advansys Texture Solutions Systems. Despite the headwinds in 2024, the demand for our specialty ingredients continues to grow, and we have opened new offices in India and incorporating a new Subsidiary in the Philippines, which are among the fastest-growing countries in the region.
Our proactive approach to managing inflationary pressures, coupled with our commitment to sustainability, has enabled us to deliver value for our shareholders. On this note, the Board of Directors has resolved to recommend a dividend payment of Baht 0.057 per share in respect of the full financial year ended December 31, 2024, which is subject to shareholder approval at the Company’s 2025 Annual General Meeting.
As we embark on the next phase of our journey, 2024 marked the first year of our five-year transformation journey to reposition ourselves into a global food company. Despite the challenges we face, including intense competition, changing consumer preferences, and the growing pressure for sustainability, we are transforming into a global food company. Our strategic initiatives, such as expanding our presence in international markets and developing innovative products like the ROSECO™ bioplastic, position us well for future growth. We believe in forming alliances and strategic partnerships to drive this growth and achieve our vision.
We promise to continue to build our legacy and to remain at the forefront of innovation. We are deeply committed and excited for the next phase of Thai Wah’s transformation. We are confident that Thai Wah will emerge stronger, faster, and better in 2025 and beyond. I extend my sincerest gratitude to our associates, partners, and stakeholders for your continued support on our journey. Together, we will continue to catalyze a better tomorrow for all in Southeast Asia as well as our global customers.
Thank you for being part of our journey.