EGCO Group Advances “POWER4” Strategy with THB 30 Billion Investment, Realigns Portfolio Toward Clean Energy to Capture Data Center Growth

Electricity Generating Public Company Limited or EGCO Group has outlined its 2026 business plan, focusing on strengthening its power plant portfolio and energy-related businesses to ensure “stable, balanced, and sustainable” growth under its “POWER4” strategy. At the same time, the company will proactively drive business progress under the “ONE EGCO ONE GOAL” theme, fostering mutual growth while advancing toward its goal of becoming a low-carbon organization. The company foresees limited impact from the tensions in the Middle East and has established comprehensive risk management systems. These include maintaining a diversified portfolio across fuel sources - both renewable and conventional - as well as energy-related businesses, effectively decentralizing and mitigating risks.

Mr. Tawatchai Sumranwanich, President of EGCO Group, said, “We have to be resilient in the wake of many global challenges, especially geopolitical tension, economic uncertainty, and new rules. EGCO Group has, therefore, adjusted our business strategy to cover all operational dimensions to ensure our goals can be reached and that it properly addresses the current situation. Our strategy, called “POWER4” comprises four missions.”

POWER4 comprises:

• Profitability and Performance Energizing: Increasing revenue and profitability while maintaining consistent dividend payments.
• Power and Energy–Related Focus: Prioritizing investments in power plants - both natural gas and renewable energy - in domestic and international markets to support the growing demand for clean energy, particularly from data centers, while exploring new opportunities in energy-related businesses.
• Portfolio Optimization: Enhancing cost efficiency and strategically managing assets through asset recycling to unlock value from high-potential projects that generate stronger future returns, and further strengthen the investment portfolio in the United States.
• Proactive Organizational Excellence: Implementing organizational restructuring and improving operations and management through the adoption of digital and AI technologies to continuously enhance electricity generation efficiency.

Meanwhile, EGCO Group will drive organizational management under the “ONE EGCO ONE GOAL” concept, emphasizing teamwork and active participation from all employees in proactively moving the company toward shared objectives. The company will also prioritize managing the organization under the ESG framework to support long-term sustainability and deliver strong returns in the future.

In 2026, EGCO Group has allocated 30 billion baht for its strategic investment initiatives. The company will seek opportunities to invest in the power sector, including high-quality natural gas and renewable power plants, through mergers and acquisitions as well as greenfield investments. It will focus on investments in the seven countries where it currently operates, particularly the United States, one of EGCO Group’s key markets, where demand is rising due to the growth of the data center industry.

The company is confident in positive supporting factors this year, as it expects to recognize increased income from projects in both domestic and international markets. In the United States, EGCO Group will recognize a full year of revenue from its investment in the Pinnacle II Portfolio, as well as from the increase of its stake in Linden Cogen to 38%. The company also expects that the power plants in which it has invested in the United States will benefit from rising energy demand driven by the growth of the data center and AI industries. In the Philippines, the company will recognize a full year of revenue from the Quezon Power Plant under the new 400-megawatt power supply agreement. In Indonesia, EGCO Group has expanded its investment in energy-related businesses in the infrastructure and utilities business through CDI Group.

Domestic Investment: The company has made progress in the RE Big Lot Round 2 project. EGCO Group is currently in the process of signing power purchase agreements (PPAs), including 10 SPP agreements with the Electricity Generating Authority of Thailand (EGAT) and one VSPP agreement with the Provincial Electricity Authority (PEA). It is expected that all PPAs will be signed within the 2nd quarter of 2026. Construction of the first project is expected to begin in mid-2027, while the scheduled commercial operation dates (SCODs) are planned for 2028-2030.

The company is also studying the Direct PPA policy, which allows private sector consumers to enter into power purchase agreements directly with power producers. This policy is particularly attractive to the data center industry, which requires a clean and stable energy supply.

Meanwhile, the EGCO Rayong Industrial Estate (ERIE) project is currently studying the feasibility of receiving electricity from EGAT’s grid and is in discussions with large data center operators that have strong investment potential and require significant volumes of electricity and water supply. In addition, the company is exploring further business opportunities for Independent Power Supply (IPS) and electricity sales through Direct PPA to support the growing demand from data centers in the ERIE in the future.

Considering the tensions in the Middle East, the company sees limited impact on its operations. Projects operating under power purchase agreements (PPAs) generally include mechanisms that allow fuel costs to be passed through to the off-taker. Meanwhile, projects that sell electricity in the pool market may experience higher fuel costs.

The company maintains sufficient energy reserves, and its transportation systems do not directly depend on routes affected by the conflict. As a result, EGCO Group is confident that its electricity generation will not be disrupted.

In addition, the company has a diversified portfolio that includes both renewable and conventional power generation, as well as investments in other energy related businesses. This helps mitigate risk concentration while strengthening its cash flow and solid financial foundation. As a result, EGCO Group remains well positioned to navigate the global capital market. Although energy stocks are currently under pressure due to the global investment environment, EGCO Group’s fundamentals remain strong and its operations are not significantly affected.

“EGCO Group believes that our “POWER4” strategy is a key direction that will promote stable, balanced, and sustainable growth. It will enable us to achieve all three phases of the low-carbon transition. We strongly believe in our ONE EGCO approach, which will allow us to turn every challenge into an opportunity. EGCO Group does not focus only on short-term success, but aims to achieve our ONE GOAL of stable, sustainable, and balanced growth. We will continue delivering quality energy to society while creating strong returns for the future,” said Mr. Thawatchai.

About EGCO Group

As of 11 March 2026, EGCO Group holds a total equity contracted capacity of 6,844 MWe, encompassing both operational plants and projects under construction. Its renewable energy portfolio stands at 1,545 MW (23% of total capacity), utilizing biomass, hydro, solar, wind, fuel cells, and battery energy storage systems (BESS). The company operates across seven countries: Thailand, Lao PDR, the Philippines, Indonesia, South Korea, Taiwan, and the USA. In addition to its power business, EGCO Group has other energy-related businesses including fuel and utilities infrastructure as well as customer solution and start-up businesses. The associated subsidiaries include EGCO Engineering and Service Co., Ltd. (ESCO) which provides power plant operations, maintenance, and engineering services, the infrastructure and utilities company CDI Group in Indonesia, Thai Pipeline Network Co., Ltd. (TPN), Innopower, which is a high-tech energy start-up incubator, and EGCO Rayong Industrial Estate (ERIE). Recognized for its sustainability leadership, EGCO Group has been included in the Dow Jones Sustainability Index (DJSI) for five consecutive years. Learn more about EGCO Group through our website at www.egco.com or on social media at www.facebook.com/EGCOGroup.