Electricity Generating Public Company Limited (SET: EGCO) has informed the Stock Exchange of Thailand that on April 23, 2026, EGCO entered into share purchase agreements with J-POWER Holdings (Thailand) Company Limited (Buyer) to divest EGCO’s 49% ownership interest in Banpong Utilities Company Limited (BPU) and Klongluang Utilities Company Limited (KLU), the wholly owned subsidiaries of EGCO. The transaction is expected to be completed by the second quarter of 2026, subject to customary closing conditions and regulatory approval.
The transaction is intended to strengthen strategic collaboration with the Buyer, who is an existing partner in the company’s projects, namely Generating Electric Public Company Limited and EGCO Cogeneration Company Limited, thereby promoting strategic alignment and sustainable business cooperation.
The transaction is also expected to create opportunities for joint investments in new projects, both domestically and internationally. The Buyer’s advanced technology and innovative management practices are anticipated to enhance the development of the assets and improve operational efficiency. Furthermore, it will increase EGCO’s investment flexibility while supporting long-term financial stability.
The divested assets, BPU and KLU, are detailed as follows:
1) BPU is a combined-cycle power plant with an installed capacity of 256 MW, located in Ratchaburi Province. It sells 180 MW of electricity to the Electricity Generating Authority of Thailand (EGAT) under a 25-year Power Purchase Agreement (PPA), and 35 MW of electricity and 80 tons/hour of steam to industrial customers. BPU commenced commercial operation on October 1, 2017.
2) KLU is a combined-cycle power plant with an installed capacity of 122 MW, located in Pathum Thani Province. It sells 90 MW of electricity to the EGAT under a 25-year PPA, and 12 MW of electricity and 13 tons/hour of steam to industrial customers. KLU commenced commercial operation on July 20, 2017.
