Latest news with #JirapornSirikum
Bangkok Post
3 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.
Bangkok Post
06-07-2025
- Business
- Bangkok Post
Egco seeks 4-5 fresh acquisitions in second half
SET-listed Electricity Generating (Egco), the power generation arm of Electricity Generating Authority of Thailand, continues to expand its business overseas with investment in a Taiwanese wind farm as it seeks to clinch an additional 4-5 merger and acquisition deals in the second half of this year. Egco is in talks with companies in Thailand and abroad, with the focus on assets in the US and Middle East, said Jiraporn Sirikum, president of Egco. "We are seeking new opportunities for investment in energy projects, including renewable energy, to rack up revenue in foreign countries," she said. Egco's investment in the Yunlin offshore wind farm, which spans 82 square kilometres in Taiwan, is expected to generate 2 billion baht a year in revenue for the company over the first five years of its operation, said Ms Jiraporn. The company holds a 26.5% stake in Yunneng Wind Power Co, a joint venture set up to operate the wind farm, which started supplying electricity in January this year. Located in the Taiwan Strait, known as a high-wind zone, the wind farm comprises 80 wind turbine generators with a total electricity generation capacity of 640 megawatts. The facility can supply power to 600,000 families, or 90% of electricity demand for households in Yunlin county. Egco is also interested in co-developing a massive gas pipeline project in the US state of Alaska, which is supported by US President Donald Trump. The Alaska venture is seen as part of Thailand's efforts to ramp up investment in the US to ward off the Trump administration's plan to impose a hefty reciprocal tariff on goods imported from Thailand. The investment in Alaska would expand Egco's business in the US, following its announcement last month of an agreement with Apex Pinnacle II Member Llc to acquite a 49% share in its Pinnacle II Portfolio, which comprises the 126MW Downeast wind farm in Maine and the 125MW Wheatsborough solar farm in Ohio.
