CKPower Successfully Places Green Bond Offering with Subscriptions Over Double Target
CKPower successfully placed 5 billion baht in green bonds with subscriptions exceeding double the target, with proceeds funding the Luang Prabang hydroelectric project in Laos.
Thanawat Treewisavet, Managing Director of CK Power Public Company Limited (CKP), one of the region's largest renewable energy producers with one of the lowest carbon footprints, announced that from April 27-29, CKPower successfully placed three tranches of green debentures totaling 5 billion baht. The offering was oversubscribed by more than double, reflecting investor confidence in the company's business fundamentals and growth trajectory amid global economic uncertainty.
"CKPower thanks all investors for their trust and confidence in our green bonds and operations, as well as the lead arrangers—Krung Thai Bank Public Company Limited, CIMB Thai Bank Public Company Limited, Siam Commercial Bank Public Company Limited, and Kiatnakin Phatra Securities Public Company Limited—who played a crucial role in the successful placement," Thanawat said. The outcome demonstrates strong confidence in the company's solid business foundation and its renewable energy strategy focused on energy security and sustainable growth.
The debentures received an "A-" credit rating from Tris Rating with a stable outlook, equivalent to the company's corporate credit rating. They were classified as green debentures in compliance with the Green Bond Principles 2021, Green Loan Principles 2025, and Thailand Taxonomy 2023, and underwent independent external review by DNV, reflecting international best practices in transparent and verifiable capital raising.
The three tranches consist of: - 4-year maturity: 2.5 billion baht at 3.89% annual interest - 7-year maturity: 1 billion baht at 3.46% annual interest, with early redemption rights - 10-year maturity: 1.5 billion baht at 3.75% annual interest, with early redemption rights
Proceeds will fund the Luang Prabang hydroelectric project in Laos, currently under construction, strengthening Thailand's energy stability and supporting the global renewable energy transition. This successful placement reinforces CKPower's role as a green bond issuer linking capital raising to environmentally friendly energy projects.
Thanawat noted that for the five-year plan (2025-2029), CKPower aims to expand capacity through solar projects via private PPAs and government bidding processes, alongside renewable energy certificate (REC) sales. The Luang Prabang hydroelectric project is 65% complete by end-2024 and is expected to achieve commercial operation by 2029. CKPower remains committed to supporting innovation and development of energy efficiency solutions.
