Electricity Generating Public Company Limited or EGCO Group posted impressive performance for the first quarter of 2016. The operating profit before the effects of Foreign Exchange (FX), Deferred Tax, Lease Income and Income from Service Concession and impairment was 2,003 million baht, increasing by 701 million baht or 54% from the same period of 2015. It resulted from the increased electricity operating profits of domestic and overseas large-scale power plants.


Mr. Chanin Chaonirattisai, President of EGCO Group said, “The rise of Q1/2016 operating results was mainly caused by the increased electricity operating profits of domestic IPP and SPP power plants, as well as overseas large-scale power plants. The continuous growth in the first quarter proved the Company’s capability in ensuring maximum efficiency of existing power plants in the portfolio which one of our three key business strategies, and the close monitoring of our assets.”


Equally important, EGCO Group has focused on managing projects under construction to be completed as scheduled and within the planned budget. As such, the “Khanom Unit 4” power plant will start its commercial operation in June 19, 2016 to replace the existing Khanom power plant, and its earning will be recognized in the third quarter this year. Additionally, the “Chaiyaphum Wind Farm” power project is also on its schedule for the commercial operation in the last quarter.


EGCO Group’s President added that “We are continuously expanding our investments in overseas markets to keep pace on the Company’s earnings growth, especially in the Southeast Asia where the Company has strong presence. Lately, we have joined with our partners in “Masinloc Unit 1-3” power plants to develop an electricity-related business “Battery Energy Storage” in the Philippines. The new project integrating 10 MW capacity of lithium-ion battery-based energy storage is located at the existing site of the Masinloc Unit 1-3 power plants in Zambales province. The project is aimed to provide reserve power and grid stability services to the Luzon grid. The construction commenced in December 2015 and now it is over 90% complete with commercial operation schedule to occur by the end of next month.”


About EGCO Group

As of May 2016, EGCO Group runs 23 operating power plants with total equity contracted capacity of 3,809 MW in 5 countries across the Asia Pacific region – Thailand, Lao PDR, the Philippines, Indonesia and Australia. There are 8 projects under construction and development with total equity contracted capacity of 1,765 MW. The Company’s power plants generate electricity using several fuel sources such as natural gas, coal, biomass, waste, hydro, solar, wind, and geothermal.