Business News

Banpu Power Announces 2016 Results Moving Forward to Increase Its Power Generating Capacity to 4,300 MWe by 2025

27/02/2017

 

Banpu Power Public Company Limited reports its 2016 business performance with a total net profit of THB 4,138 million, a significant increase from the previous year at THB 2,075 million.  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.
 
Mr. 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 THB 3,513 million, compared to THB 1,895 million last year, is driven from Hongsa Power Plant at THB 1,474 million, which has been reversed from the THB 178 million loss in 2015.  BLCP also continues to contribute a stable profit at THB 2,064 million, which is quite similar to the previous year at THB 2,095 million.  The total sales revenue at THB 5,542 million including the first revenue from solar China of THB 103 million slightly decreased compared to last year at THB 5,630 million 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 THB 5,575 million, a 31 percent increase comparing to the previous year at THB 4,251 million.
 
In 2016, Banpu Power generated its equity-based power capacity at a total of 1,934 MWe. The increase of 323 MWe from the previous year came from Hongsa Power Plant and solar projects in both Japan and China.  In addition, committed projects which are in the development process will be able to generate 651 MWe within 2018.  The Shanxi Lu Guang Power Project in China reached 35 percent progress in the construction phase and is targeted to commercially operate by 2018.  Moreover, the Luannan CHP Plant phase 2 and Zouping CHP Plant phase 4 in China are expected to start COD in 2019 and 2020 respectively. Meanwhile, the solar projects in Japan are expected to gradually achieve their targeted COD during 2017-2018.
 
In 2017, Banpu Power aims to ramp up the operation efficiency and stability at Hongsa Power Plant and to continue the expansion of Luannan CHP Plant and Zouping CHP Plant as planned while ensuring that the High Efficiency Low Emissions (HELE) technology is adopted in all new coal-fired power plant projects.  The company will seek for expansion opportunities in CLMV as well as new investments in the solar, wind, hydro, and biomass sectors in the countries where it operates.  The diversified portfolio of both conventional and renewable power assets across Asia-Pacific is the company’s energy investment strategy to align with the practice guidelines following the agreement in accordance with the United Nations Climate Change Conference or COP 22.
 
“Banpu Power is moving forward to expand its power generating capacity to 4,300 MWe, of which renewable energy will account for not less than 20 percent by the end of 2025. We continue to manage our current power plants to ensure efficient and stable operation.  The strong cash flow will be maintained to escalate new power generation investment in various energy sources.  Our commitment is to ensure that all projects can achieve the company’s growth target in order to create sustainable value for shareholders and stakeholders,” Mr. Voravudhi concluded.
 
On 23 February 2017, the company’s Board of Director resolved to propose to the Annual General Meeting of shareholders of the year 2017 to consider and approve the distribution of dividend for the second half of the year 2016 performance to the shareholders at the rate of THB 0.25 per share.  The dividend payment is scheduled to be within late April 2017 and the Excluding-Dividend (XD) signs will be posted on 7 April 2017.
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About Banpu Power
Banpu Power Public Company Limited operates both conventional and renewable power businesses across Asia, including Thailand, Lao PDR, China and Japan. Over two decades of consistent growth and development, the company has always focused on research and innovation to drive production efficiency, while utilizing advanced technologies that are safe and environmentally sound in order to become a sustainable power industry leader at the regional level. As of 31st December 2016, Banpu Power’s assets totaled THB 42,963 million increasing THB13,763 million as of 31st December 2015.
 
For more information, please contact:
Duangkamol Saleerat                 02-694-6852              duangkamol_s@banpu.co.th
Orawan Jitpugdee                      02-694-6784              orawan_j@banpu.co.th
Rachchakrit Mahathanagulthorn  02-694-6869              rachchakrit_m@banpu.co.th
Patyodsaporn Weeradittakit        02-694-6844              patyodsaporn_w@banpu.co.th

 



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