EGCO reveals 64 years Aiming to reduce the proportion of electricity generation from coal-fired power plants And increase the production of electricity from renewable energy Go forward to negotiate a merger or acquisition in the country. Profit of 8.73 billion baht, down 33% after lower electricity business income while 4Q20 net profit of 1.8 billion baht, down 29%.
Electricity Generating Public Company Limited or EGCO reported its performance for the year 2020 with a net profit of 8,733 million baht, a 33% decrease from the same period last year with a net profit of 13,059 million baht.
The total income was 39,819 million baht, a decrease of 9%, divided into electricity business income 39,072 million baht, a decrease from the previous year with income of 42,830 million baht, while the combined expenses amounted to 37,340 million baht, a decrease of 7% from The same period last year
The power generation business, where revenues and profits fell from the lower sales of Paju, ES, BL, CP, WF, Quezon and NTPC. At the same time, the operating results of SBPL, XPC, LFB, and GPG increased.
For the fourth quarter of 2020, the net profit was 1,804 million baht, a 29% decrease from the same period last year with a net profit of 2,539 million baht, with the total income of 9,113 million baht, a decrease from the same period of the previous year with revenue of 11,299 million baht. Total expenses decreased to 8,710 million baht and the asset impairment loss of 2,400 million baht and exchange gain of 2,141 million baht.
As of December 31, 2020, the Company has 28 power plants with a capacity of 5,423 MW of power purchase agreements and shareholding proportion and 2 power plants under construction. Accounted for the capacity of the power purchase agreement and the total shareholding proportion of 321 megawatts
For the year 64, the company plans to reduce the percentage of electricity generation from coal-fired power plants to approximately 20-21% and increase the proportion of electricity generation from renewable energy and Smart Energy Solution together by approximately 25% of the total capacity by the year ’73. Competitive cost-effective financing Along with reducing financial risks to increase the level of competitiveness
To increase investment opportunities and create sustainable growth EGCO expands its investment direction covering 3 areas: power generation business which is the main business Fuel and utilities business And new business in Smart Energy Solution
Future operation plans Set up investment budgets to expand the power business by investing in new projects. In the process of negotiating a merger or acquisition (M&A) in target countries such as the Republic of Indonesia. Socialist Republic of Vietnam Republic of the Philippines Lao People’s Democratic Republic Commonwealth of Australia Republic of korea Republic of China (Taiwan) and the United States
Besides investing in the core business of electricity generating business EGCO also shares investment budgets in new businesses. With a focus on investing in fuel and utilities and new businesses in Smart Energy Solution, such as the floating liquid to gas storage and conversion station (FSRU), solar power generation project in the form of Solar Solution Provider. And the EGCO Rayong Industrial Estate Project
– .
