Electricity Generating Public Company Limited (SET: EGCO) has informed the Stock Exchange of Thailand (SET) that following the signing of a purchase and sale agreement with J-POWER Holdings (Thailand) Company Limited to divest 49% of the total issued shares in each of Banpong Utilities Company Limited (BPU) and Klongluang Utilities Company Limited (KLU) on April 23, all conditions have been duly fulfilled according to the agreement.
The parties have completed the transfer of shares, and the payment of approximately THB 2,765 million for the shares. The transaction was therefore completed on September 10, 2026, resulting in EGCO holding 51% of the total issued shares of BPU and KLU and J-POWER holding 49%. EGCO still continues its role as the operator of both power plants.
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 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.
This divestment forms part of the implementation of EGCO’s “POWER4” strategy under the Asset Recycling approach, ie., the efficient and strategic recycling of assets. This will enhance EGCO’s financial flexibility and support the reinvestment of the proceeds in high-potential projects that deliver better returns over the long term.
