By The Nation
With its strong financial status, Banpu Power affirms the strategic plan in operating conventional and renewable power generation businesses throughout Asia-Pacific to achieve the power generating capacity of 4,300 MWe, of which at least 20 percent will be renewable base, by the end of 2025.
Voravudhi Linananda, chief executive officer of Banpu Power said “Our operating results in 2016 reflect the company’s steady growth. The significant increase in net profit comparing to 2015 came from the increasing contribution from the full commercial operations of Hongsa Power Plant in Lao PDR since the first quarter last year while the solar projects in China and Japan continued to progress as planned to start its commercial operation date. Three projects in China started the commercial operation in the third quarter. Finally, in the last quarter of the year, we succeeded in offering the IPO of Banpu Power ordinary shares to all investor groups. The success has therefore assisted in generating funds for future strategic investments and growth.”
The company’s share of profit from joint ventures at Bt3.51 billion, compared to Bt1.89 billion last year, is driven from Hongsa Power Plant at Bt1.47 billion, which has been reversed from the Bt178 million loss in 2015. BLCP also continues to contribute a stable profit at Bt2.06 billion, which is quite similar to the previous year at Bt2.09 billion. The total sales revenue at Bt5.54 billion including the first revenue from solar China of Bt103 million slightly decreased compared to last year at Bt5.63 billion due to power and steam tariff adjustment from 2015 which reflects the lower coal price during the beginning of 2016.
The net profit in Q4/2016 was also increased due to higher power and steam sales in China Combined Heat and Power (CHP) plants during the winter season. This year, EBITDA is Bt5.57 billion, a 31 percent increase comparing to the previous year at Bt4.25 billion.