EGCO Group Advances Asset Recycling with 49% Stake Divestment in Banpong and Klongluang Power Plants, Partnering with J-POWER to Reinforce “ONE EGCO ONE GOAL” for Sustainable Value Creation

 

Mr. Tawatchai Sumranwanich, President of EGCO Group, stated “The signing of the definitive share purchase agreements with J-POWER on 23 April 2026, marks a significant step under our “POWER4” strategy through asset recycling mean. This portfolio optimization not only enhances our financial flexibility but also leverages the expertise of the international partner to elevate operational efficiency. Upon completion of the divestment, EGCO will retain a 51% interest in both companies.”

Banpong Utilities Company Limited (BPU) is a combined-cycle power plant with an installed capacity of 256 MW, located in Ratchaburi Province. The facility supplies 180 MW of electricity to the Electricity Generating Authority of Thailand (EGAT) under a 25-year Power Purchase Agreement (PPA).In addition, BPU provides 35 MW of electricity and 80 tons per hour of steam to industrial customers. The power plant has been in commercial operation since 1 October 2017.

Klongluang Utilities Company Limited (KLU) is a combined-cycle power plant with an installed capacity of 122 MW, located in Pathum Thani Province. The facility supplies 90 MW of electricity to EGAT under a 25-year PPA. In addition, KLU delivers 12 MW of electricity and 13 tons per hour of steam to industrial customers. KLU commenced commercial operation on 20 July 2017.

Mr. Tawatchai added, “The decision to partially divest our shareholdings in BPU and KLU represents a key execution of our “POWER4” strategy. Through an efficient asset recycling approach, we are strengthening our financial flexibility to reinvest in high-potential projects that offer superior long-term returns. Moreover, this transaction enhances our strategic collaboration with J-POWER, a long-standing partner in Thailand’s IPP and SPP power projects. Beyond asset recycling, the partnership creates opportunities for future joint investments both domestically and internationally. We believe that J-POWER’s technical expertise and innovative management capabilities will further improve the operational efficiency and long‑term development of these assets.”