Mr. Jakgrich Pibulpairoj, President of Electricity Generating Public Company Limited or EGCO Group revealed the progress of the Company’s operating performance for the first nine months of 2017 that “EGCO Group satisfactorily achieved its steady growth as targeted. For the net profit, the Company booked 10,010 million baht, an increase of 2,528 million baht or 34% when compared to the same period last year. Considering the third quarter of 2017 ending 30 September 2017, the Company recorded 3,517 million baht net profit, 672 million baht or 24% higher than the previous year, thanks to the increased operating results of both domestic and overseas large-scale power plants and profits from exchange rate due to Baht appreciation.

For the third quarter of 2017 until now, EGCO Group has been progressed well with the significant achievements. The Company has generated earnings from the “Klongluang” SPP power plant in Pathumthani which started its commercial operation on July 20, 2017. Additionally, the Company has successfully completed the construction of “Banpong” SPP power project in Ratchaburi which started its commercial operation on October 1, 2017 and would thereby generate earnings from the fourth quarter onwards. Regarding the success of overseas investment, EGCO Group reached the shareholders’ agreement with Phonesack Group Co.,Ltd. and EDL-Generation Public Company to jointly develop the “Nam Theun 1” hydropower project in Lao PDR while the Project entered into PPAs with the EGAT and Electricite Du Laos (EDL) to supply 514.3 MW power to EGAT and additional 130 MW to EDL. In the meantime, Star Energy Geothermal (Salak-Darajat) B.V. (SEGSD) which is the affiliate of EGCO Group (20.07% indirect ownership interest), Star Energy Group Holdings Pte. Ltd., and AC Energy Holding, Inc., acquired 4.75% stake in the “Darajat (Unit 2-3)” geothermal power plant in Indonesia, making SEGSD’s share ownership to 99.75% and such acquisition would generate the additional income to the Company.

In addition, the Company has additional 3 overseas power projects under development being “Pak Beng” hydropower project in Lao PDR is preparing for tariff negotiation with EGAT after the completion of Procedures for Notification, Prior Consultation and Agreement (PNPCA) process by the Mekong River Commission; while the expansion of “Star Energy (Unit 3-4)” geothermal power plant in Indonesia is on the process of additional steam resource exploration and tariff negotiation with PLN; and “Quang Tri” coal-fired power project in Vietnam is preparing for negotiation on master contracts such as power purchase agreement with the Vietnam Electricity (EVN), land lease agreement, concession and government guarantee with the Vietnamese Government.

EGCO Group’s President added that “It is EGCO Group’s pleasure to be among 65 listed companies ranked in Thailand Sustainability Investment (THSI) 2017 list for three years in a row. This reflects the fact that the Company have not only generated good economic returns, but also have been focusing more on operating in accordance with environmental, social and governance (ESG) aspects to contribute to sustainable growth. The THIS 2017 list has been used as quality investment information and a decision-making tool for investors.” 

About EGCO Group
As of November 2017, EGCO Group runs 28 operating power plants with total equity contracted capacity of 4,574 MW in 5 countries across Asia Pacific region – Thailand, Lao PDR, Philippines, Indonesia and Australia. There are 4 projects under construction with total equity contracted capacity of 691 MW in Philippines and Lao PDR which will start commercial operation in 2019.