Banpu Power

Editorial Staff

BPP records Q1 net profit of two billion baht

Banpu Power Public Company Limited (BPP) reported robust cash flow in the first quarter.

Mr. Kirana Limpaphayom, chief executive officer of Banpu Power Public Company Limited, said in the first quarter of 2023, BPP reported a solid performance with net profit of 2.11 billion baht, a decrease of 28% compared to the same period last year because in 1Q2022, there was recognition of a gain on the sale of an investment.

Mr. Kirana Limpaphayom

BPP achieved an operating profit before interest, tax, depreciation, and amortization (EBITDA) of 2.30 billion baht.

In the first quarter of 2023, BPP recorded revenue from the Temple I CCGT (combined cycle gas turbine) power plant in the U.S., which totaled 1.21 billion, together with electricity sales of 1,069 GWh, reflecting a 42% increase compared to the same period last year. chain, an approach that can strengthen synergies within BPP’s business ecosystem.”

The company has been actively expanding its customer base in the retail US electricity sector. This strategic move allows the Company to capitalize on additional profit opportunities in the merchant power market. BPP is also fully committed to driving the transition towards greener energy production.The energy technology business, in particular, shows significant potential for expansion into other relevant businesses across the entire value chain, an approach that can strengthen synergies within BPP’s business ecosystem.

BPP Hongsa Power Plant

The company is continuing its investments in the energy technology sector through Banpu NEXT Co., Ltd. (Banpu NEXT) to reinforce its greener & smarter strategy. One notable project supporting this effort is the Iwate Tono - a utility-scale battery farm project in Japan, with a capacity of 58 megawatt-hours.

BPP has also made an investment in Oyika, a startup based in Singapore that specializes in battery swapping solutions for electric motorcycles. Oyika has established a robust network of battery swapping stations in Cambodia, Indonesia, and Malaysia, and is actively preparing to expand its services to Thailand and other Southeast Asian countries.

BPP Luannan Power Plant

“BPP is dedicated to operating in accordance with sustainability guidelines or ESG principles across all of our operations, taking important steps to foster growth while investing in greener and smarter businesses. By incorporating advanced technologies and innovations into our existing power plant portfolio, we aim to improve operational efficiencies and minimize carbon dioxide emissions. Our relentless pursuit of sustainable growth will generate significant value and returns for our investors and stakeholders across various sectors in the long run,” concluded Mr. Kirana.