Bangkok, Thailand – Banpu Power Public Company Limited (BPP), an international producer of quality power, has announced its Q3/2024 operating results, reporting a total revenue of THB 1,134 million and EBITDA (Earnings before interest, taxes, depreciation, and amortization) of THB 2,266 million. Net profit decreased by THB 965 million, or 46%, year-on-year.
Key factors impacting net profit were the appreciation of the Thai baht against the US dollar and milder weather conditions in the United States, which did not experience the severe heat waves seen in the same period last year. This impacted electricity demand and prices, resulting in a decrease in sales volume and electricity prices. Despite these challenges, BPP maintains a strong focus on generating robust cash flow and sustaining a low debt-to-equity (D/E) ratio.
Mr. Issara Niropas, CEO of Banpu Power Public Company Limited (BPP), commented, “Although BPP faced headwinds this quarter due to the stronger baht against the US dollar and lower electricity demand from milder weather, our thermal power plants continued to reinforce our financial strength. With stable electricity generation and distribution across the BLCP power plant in Thailand, the HPC power plant in Lao PDR, combined heat and power (CHP) plants in China, and the twin Temple I and Temple II power plants in the US, BPP continues to unlock value from existing assets, expand quality power capacity, and lower carbon emissions in alignment with the energy transition.”
Significant developments in Q3/2024:
- BLCP power plant in Thailand and HPC power plant in Lao PDR maintained high equivalent availability factors (EAF) of 99% and 93%, respectively.
- All three CHP plants in China demonstrated improved performance due to lower coal costs and generated RMB 7.5 million in revenue from the sale of carbon emission allowances (CEA), equivalent to approximately 80,000 tons of carbon dioxide. This achievement underscores the power plants’ effective management and control of carbon dioxide emissions, exceeding the required standards. The feasibility of integrating biomass fuel at these three plants is under investigation to further reduce carbon dioxide emissions.
- Banpu NEXT Co., Ltd., in which BPP holds a 50% stake, invested USD 35 million in Amp Japan, a leading renewable energy project developer in Japan. This investment aims to develop 800 megawatts of solar and wind power projects, contributing to a target of 2 gigawatts of total capacity by 2030.
- BPP was honored with the “Most Sustainable Energy Company – Thailand 2024” award from the Global Business Outlook Awards, underscoring BPP’s commitment to delivering sustainable energy as an international quality power generation company.
“The Company’s strategy centers on growth aligned with sustainability under the ESG framework, to create enduring value for shareholders and all stakeholders. We will soon outline our vision for transforming the sustainable energy business toward our 2030 goals and share insights into the future direction of power generation and distribution in our key markets,” concluded Mr. Issara.
Banpu Power Public Company Limited (BPP) is an international quality power generating company committed to providing sustainable energy. With its “Powering Society with Quality Megawatts” position, BPP operates power generation and distribution businesses across the Asia-Pacific region, encompassing Thailand, Laos, China, Japan, Vietnam, Indonesia, Australia, and the United States. BPP is dedicated to continuous improvement in its operations, striving for efficient power generation while utilizing advanced technologies that prioritize safety and environmental responsibility.
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