EGCO Sells 49% Stake in Two Power Plants to J-POWER for 2.76 Billion Baht

EGCO Group announced on September 11 that it has closed the sale of a 49% stake in Ban Pong power plant (BPU) and Khlong Luang power plant (KLU) to J-POWER Holdings (Thailand) Limited, an international strategic partner. The transaction generates approximately 2.765 billion baht in immediate cash and strengthens EGCO's financial flexibility under its POWER4 strategy, demonstrating active portfolio management capabilities.

The cash proceeds will enhance the company's financial structure and capital allocation capacity to fund new higher-yield investment projects aligned with clean energy and future technology trends. Following the share transfer completed on September 10, EGCO retains a 51% majority stake in both BPU and KLU, keeping them as subsidiaries. This allows EGCO to continue recognizing profit shares and cash flows while leveraging long-term partnership expertise with J-POWER.

Both power plants operate combined cycle thermal generation facilities with total installed capacities of 256 megawatts and 122 megawatts respectively, and hold 25-year power purchase agreements with Thailand's state utility Egat. EGCO Group remains committed to portfolio optimization and plans to deploy the 30 billion baht capital to pursue opportunities under Thailand's Power Development Plan 2026, direct PPAs, battery energy storage systems, and renewable and natural gas projects, particularly in the United States.