Bangkok: Electricity Generating Public Company Limited (EGCO Group) announced its operating results for the first six months of 2025, reporting a net profit of 5.734 billion baht. This marks an increase of 2.679 billion baht, or 88%, compared to the same period the previous year. In the second half of the year, the company plans to finalize the deal on the Wheatsborough solar power plant in the United States and is in negotiations to invest in two to three natural gas and renewable energy power plants.
According to Thai News Agency, Ms. Jiraporn Sirikham, President of EGCO Group, stated that despite challenges such as economic volatility, geopolitical conflicts, and trade protectionism, the company managed to efficiently handle power plant operations, fuel and financial costs, and assets, leading to continuous growth. A notable business move in the second quarter included acquiring a 49% stake in the 126-megawatt Downeast Wind farm, the first of two projects within the Pinnacle II power plant group in the United States. Additionally, CDI Group, in which EGCO holds a 30% stake, was listed on the Indonesia Stock Exchange, aiming for future business and investment expansion.
For the first half of 2025, EGCO Group reported revenue of 22.198 billion baht and an operating profit of 3.504 billion baht. This performance was driven by the Xayaburi, Nam Theun 1, Ban Pong, Compass, and CDI Group power plants. The net profit increase was attributed to gains from selling shares in two overseas power plants, aligned with the "Triple P" strategy, which focuses on strategic asset management. The company also recognized unrealized foreign exchange gains from the won's appreciation against the dollar.
In the second quarter of 2025, EGCO recognized revenue of 11.36 billion baht and an operating profit of 1.895 billion baht, with a net profit of 2.157 billion baht, a 55% increase compared to the same period in 2024. This was driven by unrealized foreign exchange gains.
Ms. Jiraporn highlighted that for the remainder of 2025, EGCO will be supported by factors including the planned closing of the Wheatsborough solar power plant, revenue from the hydropower plant in Laos due to seasonal water level increases, and revenue from the Quezon power plant in the Philippines under a new 400-megawatt, 15-year Power Purchase Agreement in the fourth quarter. The company is also exploring investment opportunities in domestic and international power and energy sectors, with ongoing negotiations for two to three natural gas and renewable energy projects.