Confident in sealing deals for gas-fired power plants and renewable energy projects
Electricity Generating Public Company Limited or EGCO Group announced strong performance for the first half of 2025, posting a net profit of 5,734 million baht—an increase of 2,679 million baht or 88% year-on-year. The solid results were driven largely by the company’s “Triple P” strategy, which emphasizes strategic asset recycling policy. In the second half of 2025, EGCO Group also expects to finalize the acquisition of the Wheatsborough Solar Farm in the U.S. and is currently in negotiations to invest in 2-3 deals for gas-fired power plants and renewable energy projects.
Dr. Jiraporn Sirikum, EGCO Group’s President, said that during the first half of 2025, the global business and industrial sectors faced numerous challenges stemming from economic uncertainty, geopolitical conflicts, and trade barriers. Despite these headwinds, EGCO Group effectively continued to manage and operate its power plants, fuel costs, financial expenses, and assets, while maintaining steady growth. One of the major developments in the second quarter to date was the completed acquisition of a 49% stake in the 126-MW Downeast Wind facility, one of two power plants in the Pinnacle II Portfolio in the U.S. in which EGCO Group has invested. Meanwhile, the CDI Group, a comprehensive infrastructure services company in which EGCO Group holds a 30% stake, has successfully listed on the Indonesian Stock Exchange, providing the company with greater opportunities for business expansion and investment.
The first 6-month performance of 2025: EGCO Group reported 22,198 million-baht income and 3,504 million-baht operating profit. Key projects contributing to the strong performance are Xayaburi, Nam Theun 1, Ban Pong, Compass power plant projects, as well as CDI Group, which posted outstanding performance. EGCO Group also reported 5,734 million-baht net profit, an increase of 88% year on year driven by the recognition of gain from the sales of investment in 2 overseas power plants according to the “Triple P” strategy focusing on strategic asset management. Under this direction, EGCO Group sells its assets at the proper time and uses the sales income to re-invest to create higher value and long-term growth. In addition, the company also recognized unrealized gains from exchange rates, resulting from the appreciation of the Korean won against the US dollar.
Q2/2025 performance: EGCO Group reported revenue of 11,360 million baht and operating profit of 1,895 million baht, driven by improved performance at the Nam Theun 1, Xayaburi and APEX power plants, as well as from CDI Group. Net profit reached 2,157 million baht, marking a 55% year-on-year increase, primarily due to the recognition of unrealized foreign exchange gains.
“For the remainder of 2025, EGCO Group expects to finalize the acquisition of the 125-MW Wheatsborough Solar Farm in the U.S., the second power plant in the Pinnacle II Project. Additionally, we anticipate increased revenue from our hydropower plants in Laos, supported by higher seasonal water volume. In Q4/2025, we will also begin recognizing income from the Quezon Power Plant in the Philippines, under a new 15-year, 400-MW power supply agreement. Meanwhile, EGCO Group continues to explore new investment opportunities in power generation and energy-related businesses in both domestic and oversea markets through mergers and acquisitions, as well as greenfield investments. We are currently in negotiations to invest in 2-3 deals for gas-fired power plants and renewable projects. All these initiatives reflect EGCO Group’s commitment “to secure continuous growth in order to maximize shareholder’s value,” said Dr. Jiraporn.
About EGCO Group
As of 15 August 2025, EGCO Group has a total equity capacity of 6,683 MWe in operation and under construction. Total equity capacity from renewable energy is 1,485 MWe (equivalent to 22% of the total portfolio). The renewable energy (RE) portfolio includes biomass, hydropower, solar power, onshore and offshore wind power, fuel cells, and battery storage. EGCO Group’s facilities and other projects are located in 7 countries, namely Thailand, Lao PDR, the Philippines, Indonesia, South Korea, Taiwan and USA. In addition to power business, other energy-related businesses of the company include EGCO Engineering and Service Co., Ltd. (ESCO) providing power plant operations, maintenance, engineering, construction, energy conservation and training services to power and industrial plants in many industries, the infrastructure and utilities company “CDI Group” in Indonesia, Thai Pipeline Network Co., Ltd. (TPN), “Innopower” which is a high tech start up incubator that EGCO Group owns together with its partners EGAT and RATCH Group, and EGCO Rayong Industrial Estate (ERIE). EGCO Group has been listed in the Dow Jones Sustainability Index (DJSI) for the 5th year in a row (2020-2024). Learn more about EGCO Group through our website at www.egco.com or on social media at www.facebook.com/EGCOGroup.
ไม่มีความคิดเห็น:
แสดงความคิดเห็น