Mr. Thanawat Trivisvavet, Managing Director of CK Power Public Company Limited or CKPower (SET: CKP), one of the region’s largest producers of electricity from renewables with one of the lowest carbon footprints, announced the successful offering of its green debentures. The company’s unsubordinated and unsecured green debentures with a debentureholders’ representative were issued on April 27-29, consisting of three tranches and amounting to THB 5 billion. The oversubscription of over 2 times reflected strong investors’ confidence in the company’s business fundamentals and growth outlook amid global economic volatility.
“CKPower would like to express its sincere appreciation to all investors for their trust and confidence in the company’s debentures and business operations. We also extend our gratitude to the joint lead arrangers, Krung Thai Bank Public Company Limited, CIMB Thai Bank Public Company Limited, The Siam Commercial Bank Public Company Limited, and Kiatnakin Phatra Securities Public Company Limited for their support in ensuring the success of the debenture issuance. This success reflects confidence in the company’s strong business fundamentals and its commitment to renewable energy development that strengthens energy security while supporting sustainable growth,” said Mr. Thanawat.
The debentures have been assigned an “A-” credit rating with a “Stable” outlook by TRIS Rating, consistent with CKPower’s corporate credit rating. In addition, the debentures are classified as Green Debentures in accordance with the Green Bond Principles 2021, the Green Loan Principles 2025 and the Thailand Taxonomy 2023. The issuance has been reviewed by DNV, a leading global assurance provider, acting as the Independent External Reviewer. This reflects the company’s commitment to transparent fundraising practices which are in line with international standards. The issuance comprises three tranches as follows:
- Tranche 1: THB 5 billion 4-year tenure with interest rate of 2.89% per annum;
- Tranche 2: THB 1 billion 7-year tenure with interest rate of 46% per annum and the issuer’s right to early redemption; and
- Tranche 3: THB 5 billion 10-year tenure with interest rate of 3.75% per annum and the issuer’s right to early redemption.
Proceeds from this issuance will be used to invest in the Luang Prabang Hydroelectric Power Project in the Lao People’s Democratic Republic, which is currently under construction. The project aims to enhance Thailand’s energy security and support the transition toward renewable energy in line with global energy trends. The successful issuance also reinforces CKPower’s role as a green debentures issuer that effectively links fundraising with the development of environmentally friendly energy projects in a tangible way.
Mr. Thanawat stated that, under the company’s five-year plan (2026–2030), CKPower aims to expand its power generation capacity through solar energy projects in the form of private PPA arrangements and participation in government renewable energy bidding, alongside the sale of Renewable Energy Certificates (RECs). Meanwhile, the Luang Prabang Hydroelectric Power Project has reached 65% construction progress as of the end of 2025 and is expected to commence commercial operations (COD) as scheduled in 2030.
CKPower remains committed to driving growth through innovation in energy efficiency, enhancing power generation performance and raising energy conservation awareness across the value chain. These efforts aim to balance energy security, sustainable returns and environmental stewardship, while supporting the transition from fossil fuels toward a low-carbon energy generation system to achieve net-zero greenhouse gas emissions by 2050.
