Bangkok: Electricity Generating Public Company Limited (EGCO Group) has entered into an agreement to divest a 49% stake in the "Ban Pong" and "Khlong Luang" power plants to its Japanese partner, J-Power Holdings (Thailand) Co., Ltd. (J-POWER). The decision to sell is aimed at utilizing the capital generated from this transaction to explore new business opportunities with high growth potential.
According to Thai News Agency, Mr. Thawatchai Samranvanich, President and CEO of EGCO Group, announced that the share purchase agreement with J-POWER was finalized on April 23, 2026. This strategic move is part of EGCO's Asset Recycling strategy, which seeks to optimize the company's portfolio, enhance financial flexibility, and improve operational efficiency by partnering with a globally recognized firm. Post-transaction, EGCO will maintain a 51% ownership in both power plants.
The Ban Pong and Khlong Luang facilities are small-scale private power plants (SPPs) operating as combined cycle power plants. Both have 25-year power purchase agreements with the Electricity Generating Authority of Thailand (EGAT). Ban Pong Utility Co., Ltd. (BPU), situated in Ratchaburi province, boasts a total installed capacity of 256 megawatts, supplying 180 megawatts to EGAT. Meanwhile, Khlong Luang Utility Co., Ltd. (KLU), located in Pathum Thani province, has an installed capacity of 122 megawatts, with 90 megawatts sold to EGAT. The financial terms of the transaction remain undisclosed, but the process is anticipated to conclude by the second quarter of 2026.