Banpu Power, a power-generating firm, reported a 1.25 billion baht net profit in the first quarter of 2019, a whopping 167% increase from the previous year, or 784 million baht.
"This reflects the company's financial strength, which is instrumental for moving forward current projects and seeking new investment opportunities in other countries," said chief executive Sutee Sukruan.
As of March 31, Banpu's assets totalled 51.6 billion baht, an increase of 36 million from Dec 31 last year.
Its earnings before interest, taxes, depreciation and amortisation (Ebitda) totalled 1.62 billion baht in the first quarter of 2019, an increase of 75% quarter-on-quarter.
Banpu operates both conventional and renewable power businesses across Asia-Pacific, including in Thailand, Laos, China, Japan and Vietnam. The company has 17 operational power plants with a total equity-based power generation capacity of 2,145MW, comprising 1,955MW from conventional power plants and 190MW from renewable power plants.
This consistent power capacity growth indicates Banpu is on track to achieve a total equity-based power-generation capacity of 4,300MW, with at least 20% from renewables by 2025.
"Banpu is taking great strides towards sustainable growth with a balanced investment portfolio in accordance with energy sustainability principles and our 'Greener & Smarter' strategy," Mr Sutee said. "We focus on improving operational efficiency in both conventional and renewable power projects, utilising high efficiency and low emissions technologies to successfully deliver reliable power generation."
He said the BLCP power plant achieved an Equivalent Availability Factor (EAF) of 100% and yielded reliable returns, while the Hongsa Power Plant maintained an EAF of 81% despite its annual minor inspection for unit 1.
The company also completed a feasibility study and held a public hearing with communities near the project area and transmission line construction areas for phase 1 of its Soc Trang wind power project that has 30MW capacity.
"We're confident the Soc Trang development will continue smoothly," Mr Sutee said.
