Electricity Generating Public Company Limited or EGCO Group has been assigned the “AA+” company rating by TRIS Rating for the 3rd consecutive year. The rating continues to reflect the competitiveness of EGCO Group, which is one of the leading power producers with a large and well-diversified power portfolio as well as high reliability of cash flows, supported by long-term power purchase agreements (PPAs).

Mr. Thepparat Theppitak, EGCO Group’s President, said, “In 2023, TRIS Rating affirmed the company rating on EGCO Group at “AA+” for the 3rd consecutive year, demonstrating the agency’s trust in the company’s competitiveness. EGCO Group’s capability has been supported by its strong market presence along with a solid portfolio of large and well-diversified power plants in terms of the types of power generation, primary fuel used both conventional and renewable, and geography. These factors help stabilize the revenue and profit of the company. In addition, the company’s cash flow is highly reliable as most of its power projects operate under multi-year PPAs, with typical terms of 15-30 years.

“EGCO Group’s AA+ company rating given for the 3rd year in a row emphasizes our dedication to maintaining competitiveness in both business and financial areas, particularly in the current fast-changing energy transition periods. Recently, we have introduced and applied the “4S” strategy with an aim of quickly generating more income and strengthening the company’s business. The “4S” strategy comprises 1. Strengthening financial performance, 2. Selecting high quality project with focus on merger and acquisition of highly efficient conventional and renewable power plants to immediately recognize income, 3. Speeding up projects under construction to meet with the planned schedule, and 4. Streamlining portfolio and improving operation of our existing 36 power plants and energy-related businesses in order to achieve maximum efficiency. This addresses our commitment to create sustainable value for our shareholders,” concluded Mr. Thepparat. 

About EGCO Group
EGCO Group currently has a total contracted capacity of 6,317 MW (including both projects that already start commercial operations, and projects under construction). Total capacity from renewable energy is as high as 1,363 MW (22% of the total capacity), which includes biomass, hydropower, solar power, wind power, fuel cells and battery storage. These power plants and other projects are located in eight countries, namely Thailand, Laos PDR, the Philippines, Indonesia, Australia, South Korea, Taiwan and USA. In addition, its energy-related businesses include the Extension of Petroleum Pipeline System in Northeastern (TPN), “EGCO Rayong” Industrial Estate Development project, the license to source and supply natural gas in Thailand, financial technology company (Peer Power), innovation research and development company (Innopower). EGCO Group has been included in the Dow Jones Sustainability Index (DJSI) for three consecutive years and sets a goal to achieve Net Zero by 2050.