Latest news with #EGCO
Bangkok Post
4 days ago
- Business
- Bangkok Post
EGCO profit jumps 88% on strong performance
Bangkok, August 15, 2025 - Electricity Generating Public Company Limited (EGCO Group) has announced strong first-half 2025 results, posting a net profit of 5,734 million baht—an increase of 2,679 million baht or 88% year-on-year. The solid performance was largely driven by the company's 'Triple P' strategy, which emphasises strategic asset recycling. For the second half of 2025, EGCO Group expects to finalise the acquisition of the Wheatsborough Solar Farm in the United States and is in negotiations for two to three additional investments in gas-fired power plants and renewable energy projects. Dr. Jiraporn Sirikum, EGCO Group's President, said that despite global challenges from economic uncertainty, geopolitical conflicts, and trade barriers, the company effectively managed operations, fuel costs, financial expenses, and assets to maintain steady growth. In the second quarter, EGCO Group completed the 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. The CDI Group, a comprehensive infrastructure services company in which EGCO holds a 30% stake, also successfully listed on the Indonesian Stock Exchange, providing greater opportunities for expansion. For the first six months of 2025, EGCO Group reported revenue of 22,198 million baht and operating profit of 3,504 million baht. Key contributors included the Xayaburi, Nam Theun 1, Ban Pong, and Compass power plants, as well as the CDI Group. Net profit rose sharply, supported by gains from the sale of investments in two overseas power plants in line with the 'Triple P' strategy, which focuses on selling assets at the right time and reinvesting proceeds to create higher value and long-term growth. The company also recognised unrealised gains from exchange rate movements, driven by appreciation of the Korean won against the US dollar. In Q2/2025, revenue reached 11,360 million baht and operating profit was 1,895 million baht, fuelled by improved performance at the Nam Theun 1, Xayaburi, and APEX power plants, as well as CDI Group. Net profit rose 55% year-on-year to 2,157 million baht, mainly due to unrealised foreign exchange gains. Looking ahead, Dr. Jiraporn noted that EGCO expects higher revenue from its hydropower plants in Laos in the second half, supported by seasonal water inflows. In Q4/2025, the company will begin recognising income from the Quezon Power Plant in the Philippines under a new 15-year, 400-MW power supply agreement. EGCO Group is also pursuing further domestic and overseas investments in power generation and energy-related businesses, through mergers, acquisitions, and greenfield projects, reinforcing its commitment to continuous growth and maximising shareholder value.
Nikkei Asia
20-06-2025
- Business
- Nikkei Asia
Thai power supplier EGCO buys 49% of US wind farm
BANGKOK -- Thai electricity provider EGCO has purchased a 49% stake in a U.S. onshore wind farm, as the group looks to increase the share of renewable energy in its power supply mix. EGCO invested in the Downeast Wind project in the state of Maine. The stake was acquired from Apex Clean Energy Holdings, a U.S. renewable energy company partly owned by EGCO.
