CKPower Green Debenture Issue Oversubscribed Twofold
Renewable energy producer CKPower secures THB 5 billion in green funding to accelerate the Luang Prabang Hydroelectric project amidst market volatility
- Renewable energy producer CKPower successfully issued THB 5 billion in green debentures, which were oversubscribed by more than two times.
- The funds raised are specifically allocated to finance the ongoing construction of the Luang Prabang Hydroelectric Power Project in Laos.
- The strong investor demand was supported by the debentures' 'A-' credit rating and reflects market confidence in the company's sustainable growth strategy.
Renewable energy producer CKPower secures THB 5 billion in green funding to accelerate the Luang Prabang Hydroelectric project amidst market volatility.
CK Power Public Company Limited (CKPower), one of Southeast Asia’s largest renewable energy producers, has successfully issued THB 5 billion in green debentures, with investor demand exceeding the initial offering by more than two times.
The unsubordinated and unsecured issuance, finalised between 27 and 29 April, signals robust investor appetite for sustainable infrastructure despite ongoing global economic fluctuations.
Managing Director Thanawat Trivisvavet noted that the oversubscription underscores market confidence in the firm’s business fundamentals and its low-carbon growth strategy.
Strategic Allocation and Ratings
The proceeds are earmarked for the ongoing construction of the Luang Prabang Hydroelectric Power Project in the Lao People’s Democratic Republic. As of the end of 2025, the project reached a 65% construction milestone and remains on track for commercial operations in 2030.
The debentures were issued in three tranches:
Tranche 1: THB 2.5 billion, 4-year tenure at 2.89% p.a.
Tranche 2: THB 1.0 billion, 7-year tenure at 3.46% p.a. (with early redemption rights).
Tranche 3: THB 1.5 billion, 10-year tenure at 3.75% p.a. (with early redemption rights).
The issuance earned an 'A-' credit rating with a 'Stable' outlook from TRIS Rating. To ensure international transparency, the bonds comply with the Green Bond Principles 2021 and the Thailand Taxonomy 2023, with external verification provided by global assurance firm DNV.
Future Outlook
Under its 2026–2030 five-year plan, CKPower intends to further diversify its portfolio through solar energy expansion via private Power Purchase Agreements (PPAs) and government bidding rounds. The company is also scaling its involvement in the sale of Renewable Energy Certificates (RECs).
"This success reflects confidence in our commitment to renewable energy development that strengthens energy security while supporting sustainable growth," Thanawat said.
CKPower currently manages a portfolio of 18 power plants with a total installed capacity of 3,640 MW. The company remains committed to achieving net-zero greenhouse gas emissions by 2050, positioning itself as a pivotal player in the transition from fossil fuels to high-efficiency, low-carbon power generation.
