EGCO sees Bt10 billion in profits in first nine months of 2017

“EGCO Group satisfactorily achieved its steady growth as targeted,” president Jakgrich Pibulpairoj
said this week. 
“In terms of net profit, the company booked Bt10.010 million in those nine months, an increase of Bt2.528 million or 34 per cent compared to the same period last year. 
“In the third quarter ending September 30, the company recorded Bt3.517 million net profit – Bt672 million or 24 per cent more than the previous year, thanks to increased operating results of both domestic and overseas large-scale power plants and profits from the exchange rate due to the baht’s appreciation.”
In the third quarter to date, EGCO has made significant achievements. It’s generated earnings from the Klongluang SPP power plant in Pathum Thani, which began commercial operations on July 20, and has completed the Banpong SPP project in Ratchaburi, which opened on October 1 and will generate earnings beginning this quarter. 
Overseas, EGCO reached the shareholders’ agreement with Phonesack Group and EDL-Generation to jointly develop the Nam Theun 1 hydropower project in Laos, which will supply 514.3 megawatts of power to EGAT and 130MW to EDL. 
Star Energy Geothermal (Salak-Darajat), which is an affiliate of EGCO (20.07 per cent indirect ownership), Star Energy Group Holdings and AC Energy Holding acquired 4.75-per-cent stake in the Darajat (Unit 2-3) geothermal power plant in Indonesia, taking Star’s share ownership to 99.75 per cent. The acquisition will generate additional income for EGCO.
The company has three other overseas power projects under development. 
The Pak Beng hydropower project in Laos is preparing for tariff negotiation with EGAT after completing necessary procedures for the Mekong River Commission. The expansion of the Star Energy (Unit 3-4) geothermal power plant in Indonesia is in the process of additional steam-resource exploration and tariff negotiation.
And the Quang Tri coal-fired power project in Vietnam is preparing for negotiation on master contracts such as a power-purchase agreement with the Vietnam Electricity, a land lease agreement, concessions and guarantees with the government.
“It is EGCO Group’s pleasure to be among 65 companies on the Thailand Sustainability Investment list for three years in a row,” Jakgrich said. 
“This reflects the fact that the company has not only generated good economic returns, but also has been focusing more on operating in accordance with environmental, social and governance aspects to contribute to sustainable growth. The 2017 list has been used as quality investment information and a decision-making tool for investors.”