Bangkok, Aug 10 – CKPower’s first-half performance was affected by El Niño, expecting the third quarter to improve from the second quarter due to the flood season. Ready to systematically plan to cope with drought Reiterated the target to increase the proportion of renewable energy power generation capacity to 93%.
CKP), one of the region’s largest renewable power producers and aiming for one of the lowest carbon footprints, revealed that in the first half of 2023, the El Niño phenomenon caused global climate change widespread drought including countries in Southeast Asia As a result, the amount of water in the reservoir of the Nam Ngum 2 Hydroelectric Power Plant and the amount of water flowing through the Xayaburi Hydroelectric Power Plant were less than the same period last year. Causing the performance of CKPower to decrease in the second quarter of 2023 and the first half of this year, the company has announced the availability of electricity under the principle of caution and manage various expenses with maximum efficiency to cope with with the low water situation It is expected that in the 3rd quarter of 2023, the operating results will improve from the 2nd quarter of 2023 due to seasonal flooding factors.
In the second quarter of this year, the company had total revenue of 2,566 million baht, a decrease of 93 million baht or 3.5 percent from the same period last year with revenue of 2,659 million baht and total revenue for the first six months of this year amounting to 5,251 million baht, an increase of 49 million baht from the first six months of last year, or 0.9 percent, mainly due to Increase in project management and other related income The net profit attributable to equity holders of the company in the second quarter and the first half of 2023 decreased from the same period last year. with a profit of 864 million baht or a decrease of 99 percent. 8 While the first 6 months of this year, the Company recorded a net loss of 103 million baht, a decrease from the same period of the previous year with a net profit of 903 million baht, mainly due to a decrease in profit sharing from Investment in XPCL from the decrease in electricity sales according to the amount of water and from increasing financial expenses in line with global interest rates, while NN2’s revenue from electricity sales decreased and expenses increased from major overhaul according to the normal maintenance plan. As for the Bangkhenchai Solar Power Plant (BKC), the income decreased due to the termination of receiving Adder. still going strong The net interest bearing debt to total equity ratio is good at 0.62 times.
“This year’s dry season Considered another difficult year. because there is an El Niño situation to join But the company is confident that it will be able to get through this event well. Because the company is confident that in the third quarter there will be an increase in the amount of water according to the flood season. In addition, plans and preparations have been made to deal with drought in a systematic way. In addition, the Company has also monitored the policy interest rate situation of the United States and Thailand. This is another factor that will affect CKP’s performance. At the end of the second quarter of 2023, 83% of CKP’s long-term debt according to the consolidated financial statements were debentures with fixed interest rates. And the average cost of finance is 3.50 percent. XPCL, an associated company, has a policy to hedge interest rate risk through interest rate swap and debenture issuance. To manage long-term debt to have an appropriate ratio of fixed interest and floating interest continuously.
Mr. Thanawat added that in 2023, CKPower has set a goal of greenhouse gas emissions Scope 1 and 2 not exceeding 723,674 tons of carbon dioxide equivalent (tCO2e). As of 30 June 2023, CKPower emitted greenhouse gases at 354,851 tons of carbon dioxide. Equivalent (tCO2e), which is considered better than the target set by the company. And it is expected that in the second half of the year, greenhouse gas emissions will be managed to exceed the target or better than the target. The company has a project to reduce energy consumption. Projects to increase the efficiency of resource utilization within the organization and plan to use electric cars to replace existing cars. And will increase the use of electricity from renewable energy within the organization from 88% to 92% within this year.
About “CK Power Public Company Limited or CKPower”
The Company operates the business of generating and distributing electricity from 3 types of energy, totaling 14 sites with a total installed capacity of 3,627 megawatts, consisting of (1) 3 hydroelectric power plants, namely Nam Ngum 2 Hydroelectric Power Plant under Nam Power Company Limited. Ngum 2 Co., Ltd., in which the Company holds 46% of shares (held through SouthEast Asia Energy Co., Ltd.), with an installed capacity of 615 MW Xayaburi Hydroelectric Power Plant under Xayaburi Power Co., Ltd. in which the Company holds 42.5% of shares, with an installed capacity of 1,285 megawatts; and Luang Prabang Hydroelectric Power Project under Luang Prabang Power Company Limited, in which the Company holds 50.0% of shares, with an installed capacity of 1,460 MW (2) 2 cogeneration power plants under Bangpa-in Cogeneration Company Limited, in which the Company holds 65% of shares, with an installed capacity of 238 MW; 9 solar plants under Bangkhenchai Company Limited, in which the Company holds 100% of shares, 7 sites with an installed capacity of 15 megawatts under Nakhon Ratchasima Solar Company Limited, in which the Company holds 30% of shares, 1 site with installed capacity Set up 6 megawatts and under Chiang Rai Solar Co., Ltd., in which the company holds 30% of shares, 1 plant with an installed capacity of 8 megawatts.
CK Power Public Company Limited or CKPower is one of the largest renewable power producers and has the lowest corporate carbon footprint in the region. It aims to increase the share of renewable energy capacity from 93% to 95% or 4,800 megawatts by 2024. CKPower also supports the goal of net zero emissions. GHG Emissions) by the year 2050 through the development of innovation in power generation from clean energy. Most recently, in 2022, renewable energy plants under the CKPower Group can generate clean electricity to Thailand up to 9,767 gigawatt hours (GWh) or 4. 5% of the electricity used in the country equivalent to avoiding GHG emissions of 5 million tonnes CO2e per year. Ranked in the list of sustainable stocks (Thailand Sustainability Investment) of the Stock Exchange of Thailand Consecutively for the third year . – Thai News Agency
Source: Thai News Agency