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 that the operating results of Xayaburi Hydroelectric Power Plant were a key driver to CKPower’s overall performance.
For the nine months of 2026, CKPower recognized a Share of Core Net Profit of Baht 1,325 million from Xayaburi Power Company Limited (XPCL), an increase of Baht 200 million, or 18%, compared to the same period last year. The increase was driven by higher electricity sales volume and lower finance costs.
For the nine months of 2026, CKPower recorded a Core Net Profit of Baht 1,102 million, a decrease of 33% compared to the same period last year. The decline was primarily attributable to lower electricity sales revenue from Nam Ngum 2 Power Company Limited (NN2), compared with the high base in the same period last year, when NN2 benefited from higher-than-average water inflows. This was compounded by higher fuel costs at Bangpa-in Cogeneration Limited (BIC), driven by ongoing geopolitical tensions in the Middle East.
As of the end of September 2026, the reservoir level at the Nam Ngum 2 Hydroelectric Power Plant stood at 366 meters above mean sea level, broadly in line with the historical average despite the impact of El Niño conditions during the third quarter. Meanwhile, the average water flow through the Xayaburi Hydroelectric Power Plant remained at a favourable level, similar to the same period last year, enabling the plant to generate electricity at full capacity.
The Company continues to closely monitor water conditions during Q4/2026 and use its Hydrometeorological Monitoring and Forecasting System to support efficient power generation planning in response to the water conditions.
Looking ahead, the Xayaburi Hydroelectric Power Plant is expected to benefit from favourable water levels in upstream reservoir-type hydroelectric power plants along the Mekong River in China, as water is gradually released for power generation in early 2027. Meanwhile, construction of the Luang Prabang Hydroelectric Power Project reached 82% completion as of the end of September 2026, in line with the construction schedule.
CKPower continues to sustain a solid financial foundation. As of September 30, 2026, the company maintained the Current Ratio of 2.26 times, while the Net Interest-bearing Debt to Equity Ratio remained at a low level of 0.52 times. These indicators reflect the Company’s prudent liquidity management and its ability to maintain an appropriate level of debt-servicing capacity. The company continues to monitor interest rate trends and manage its long-term debt structure to maintain an appropriate balance.
Mr. Thanawat stated that the draft Thailand Power Development Plan (PDP 2026), which aims to increase the proportion of renewable energy and promote clean electricity trading, presents opportunities for CKPower to expand its investments and further develop its renewable energy business.
The Company plans to increase its solar power generation capacity through Private Power Purchase Agreements (Private PPAs) and participate in renewable energy project bidding under government policies. In September 2026, two solar power plants jointly developed by Bangkhenchai Company Limited (BKC) and Bangkok Expressway and Metro Public Company Limited (BEM), with a combined installed capacity of 7 MW, commenced commercial operations, supplying clean electricity to support Thailand’s mass transit system.
In addition, the Company continues to explore opportunities to sell Renewable Energy Certificates (RECs) to meet growing demand for clean energy from the business and industrial sectors, while supporting Thailand’s clean energy transition.
