Mr. Chanin Chaonirattisai, Director, Acting President of Electricity Generating Public Company Limited or EGCO Group disclosed the first six months of 2017’s operating results that the Company has recorded satisfactory financial performance for the first half of 2017 as targeted with the net profit of 6,494 million baht, an increase of 1,857 million baht or 40% when compared to the same period last year. For the second-quarter performance, the Company successfully posted 3,530 million baht     net profit, 1,482 million baht or 72% higher than the previous year, thanks to the increased operating results of domestic and overseas large-scale power plants. EGCO Group’s Board of Directors also approved the interim dividend payment from the first-half-year operation of 2017 at 3.50 baht per share and the payment date is on September 15, 2017. 

“For business operation, EGCO Group has successfully completed the construction of “Klongluang” power project in Pathumthani province which started its commercial operation since July 20, 2017 and would thereby generate earnings from the third quarter onwards. We also expect the 220MW “Banpong” SPP Cogeneration power project in Ratchaburi province to be completed for the commercial operation in October 2017 which will boost our revenue growth”, said Mr.Chanin.

For the second half of 2017, EGCO Group would continually concentrate in pursuing its business opportunities, giving the priority to power business which is its core expertise, especially in overseas countries where the Company has strong presence in order to maintain at least 10% return on equity (ROE) for its shareholders.

“We understood that investment opportunities in Thailand are quite limited that the power development policy presently gears to small-scale power plants such as biomass power project. EGCO Group then focuses on seeking overseas opportunities particularly in Asia Pacific region where the Company has strong presence through an approach of developing new projects within the existing plant sites. Philippines will be our flagship market where we stepped in since 2008”, added Mr. Chanin.

For the progress of 4 overseas projects under development i.e. 2 projects in Lao PDR; “Pak Beng” hydropower project 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, and “Nam Thuen 1” hydropower project is preparing for PPA signing with EGAT and loan agreement negotiation with lenders after the Power Purchase Agreement Draft was reviewed by the Attorney General; 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 presently 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.

About EGCO Group
As of July 2017, EGCO Group runs 27 operating power plants with total equity contracted capacity of 4,352 MW in 5 countries across Asia Pacific region – Thailand, Lao PDR, Philippines, Indonesia and Australia. There are 5 projects under construction with total equity contracted capacity of 750 MW. The Company’s power plants generate electricity using several fuel sources such as natural gas, coal, biomass, waste, hydro, solar, wind, and geothermal.