Company Milestone

Year 2023

On November 18 – December 28, 2023, Nam Ngum 2 Hydroelectric Power Plant completed its first turbine major overhaul according to the plan.
BKC signed a power purchase agreement under the Feed-in Tariff (FiT) renewable power production project, a group with zero fuel cost, with the Provincial Electricity Authority.  The project has its installed capacity of 6 MW; and is scheduled to start producing and selling commercial electricity in 2027 at a tariff of Baht 2.1679 per kWh, with a contract period of 25 years from the date of commencement of commercial production and distribution.
the Company was nominated for a final round of IR Magazine Awards 2023 in the Best ESG Reporting category for its sustainability reporting and ESG progress report which could provide exceptional in-depth insights to investors and stakeholders.
the Company was presented with the Commended Sustainability Awards at the SET Awards 2023 by the Stock Exchange of Thailand, in recognition of the Company’s commitment to continuous sustainability performance.
the Company was assessed as one of 34 listed companies with sustainability management, which were ranked the 'AAA' SET ESG Ratings for the year 2023, the highest achievable level, by the Stock Exchange of Thailand, and has been included in the THSI list for the 4th consecutive year.
the Company received an “Excellent” CG Score rating from Corporate Governance Report of Thai Listed Companies 2023 published by the Thai Institute of Directors Association. This has been the Company’s 6th consecutive year of achieving such score.

XPCL issued and offered for sale the unsecured, unsubordinated Green Debentures No. 1/2023, with debentureholders’ representative, in the total amount of Baht 3,500 million, divided into:

  • Baht 1,500 million debentures with a maturity of three years at the interest rate of 5.15 percent per annum;
  • Baht 384 million debentures with a maturity of four years at the interest rate of 5.30 percent per annum;
  • Baht 1,616 million debentures with a maturity of five years at the interest rate of 5.55 percent per annum.

On October 27, 2023, XPCL used the total proceeds from such debentures to repay the loans to reduce XPCL’s financial cost.

the Company received the ESG Corporate Awards 2023, Gold level, and the Best Initiative – Social Responsibility award from The Asset, an Asia’s leading financial magazine. The Awards reflected the Company’s sustainable business operations in all dimensions of ESG in accordance with international standards and value creation to all stakeholders.
Bangpa-in Cogeneration Power Plant were awarded the CSR-DIW Continuous Award 2023 by the Department of Industrial Works, Ministry of Industry for the 2nd consecutive year.
the Company received the Asia Responsible Enterprise Awards 2023 - Social Empowerment for the 2nd consecutive year from AREA, the leading private development organization that aims to support the potential of responsible enterprises in Asia. The award was presented to the “Hing Hoi Project”, the Company’s corporate social responsibility activity, which has continued for over 7 years. The Hing Hoi Project brings the Company’s personnel capability and expertise in developing renewable energy to improve value and quality of life of communities surrounding the Company’s power plants and other remote areas, both in Thailand and Lao PDR.
two solar farm power plants of BKC, namely Bangkhenchai Solar Power Plant and Khlong Preng Solar Power Plant, were awarded the CSR-DIW for Beginner Award 2022 by the Department of Industrial Works, Ministry of Industry, in recognition of their sustainable business operations and commitment to ESG improvements to ensure steady and stable returns in the long-term.
the Company was included in the list of “Sustainability Operating Companies” or ESG100 for 2023 by Thaipat Institution for the 2nd consecutive year, through the assessment of the listed companies’ public disclosures of ESG information, based on the Company’s publicly available reports.  The Company was shortlisted among 8 companies having the highest score in the Electric Utilities & Power Generators sector out of 67 companies based on outstanding ESG performance to create sustainable value for stakeholders.
the Company made the dividend payment from the operating results for 2022 at the rate of Baht 0.085 per share in the total amount of approximately Baht 691.0 million, representing 157.3 percent of the net profit under the separate financial statements.
On May 18, 2023, the Company received two awards from The European Global Sustainability & ESG Awards 2023, organized by The European, the leading business magazine from the United Kingdom, namely:
  • Best Leadership in the Sustainable Energy Industry: Mr. Thanawat Trivisvavet – Thailand;
  • Best Sustainable Development Strategy Energy Industry.
The awards were given to the organization that has demonstrated exceptional efforts in developing ESG strategies and driving organizational sustainability, based on the sustainability information disclosures during 2022.
In May 2023, LPCL fulfilled the terms and conditions of the Concession Agreement, the Power Purchase Agreement, and the Credit Facility Agreement of the Luang Prabang Hydroelectric Power Project according to plan. The project will have an installed capacity of 1,460 MW to sell all electricity generated to EGAT at an average tariff of approximately Baht 2.4030 per kWh and is expected to start its commercial operation in early 2030.
In March 2023, the Company received the Carbon Champion Certificate – Standard Tier from Enterprise Asia’s Carbon Champion Programme, the international independent carbon management assessment institution, for the first time. The certificate was given to the Company for its efforts achieving energy efficiency, Greenhouse Gas emission and reduction, environmental impact reduction, and Greenhouse Gas management innovations, i.e. internal carbon pricing.
In February 2023, the Company received the ESG Corporate Awards 2022, Platinum level, from The Asset, an Asia’s leading financial magazine. The Awards reflected the Company’s sustainable business operations and priority given to all stakeholders in all dimensions of ESG in accordance with international standards.
the Company was awarded the Best Green Bond Hydropower Plant Framework – Thailand at The International Finance Awards 2022 hosted by The International Finance Magazine, the United Kingdom-based finance magazine, for the offering for sale of green bond of the Company’s Xayaburi Power Plant in 2022, which the Green Bond Framework was established in accordance with the Green Bond Principles 2021 and ASEAN Green Bond Standards 2018, which greatly attested to XPCL’s green credentials.
the Company was presented with the Most Sustainable Hydro Power Company in Thailand at The Global Economics Awards 2022, hosted by The Global Economics Magazine, the United Kingdom-based finance magazine, in recognition of the Company’s sustainable operations of the hydro power plant.

Year 2022

the Company paid for the acquisition of the additional 8.0 percent shares in LPCL in the amount of Baht 2.56 million as approved by the Extraordinary General Meeting of Shareholders No. 1/2022.
the Company was presented with ASEAN CG Scorecard Award for 2021 in the category of ASEAN Asset Class, accorded by ASEAN Capital Markets Forum (ACMF) and Asian Development Bank (ADB), to honor and acknowledge listed companies in ASEAN which adhere to good corporate governance, stay ESG transparent and focus on sustainable growth in compliance with international investment standards.
the Extraordinary General Meeting of Shareholders No. 1/2022 of the Company resolved to approve execution of the transactions on acquisition of assets and connected transactions as follows:
  • Acquisition of the ordinary shares in LPCL for another 8.0 percent and acquisition of newly issued ordinary shares in LPCL in proportion to the Company’s shareholding;
  • Provision of financial assistance to LPCL under the conditions stipulated in contracts related to the Credit Facilities Agreement of the Luang Prabang Hydroelectric Power Project;
  • Provision of financial assistance to PTS under the conditions stipulated in contracts related to the Credit Facilities Agreement of the Luang Prabang Hydroelectric Power Project.
the Company issued and offered for sale the unsubordinated and unsecured debentures No. 1/2022 with debenture holders’ representative and with the issuer’s right to early redemption, in the total amount of Baht 1,000 million, with the maturity of 10 years, at the interest rate of 4.71 percent per annum, to rollover the debentures maturing in the fourth quarter of 2022, with the Company receiving a corporate rating of “A/Stable” outlook, and an issue rating of “A-/Stable” outlook for all of their series, including these aforesaid series, from TRIS Rating.
the Company received the Rising Star Sustainability Awards from the SET Awards 2022 organized by the Stock Exchange of Thailand, proven the Company’s commitment to ongoing development of sustainability by focusing on production of electricity from renewable energy, with an aim of increasing the renewable energy production capacity to 95 percent of all electricity generated by 2024 to ensure that the Company plays a part in contributing to long-term sustainable economic and social growth for the country.
the Company received an “Excellent” CG Score rating from Corporate Governance Report of Thai Listed Companies 2022 published by the Thai Institute of Directors Association. This has been the Company’s 5th consecutive year of achieving such score.
the Company was included in the Thailand Sustainability Investment or THSI list of 2022 by the Stock Exchange of Thailand for the 3rd consecutive year.
XPCL issued and offered for sale the unsecured, unsubordinated Green Debentures No. 1/2022, with a debenture holders’ representative, in the total amount of Baht 8,395 million, consisting of the initial offering amount of Baht 5,000 million and an over-allotment option amount of Baht 3,395 million, divided into:
  • Baht 4,031 million debentures with a maturity of three years at the interest rate of 4.50 percent per annum;
  • Baht 1,258 million debentures with a maturity of four years at the interest rate of 4.75 percent per annum;
  • Baht 3,106 million debentures with a maturity of five years at the interest rate of 5.00 percent per annum.
XPCL received a corporate rating of “A-/Stable Outlook” and an issue rating of “BBB+/Stable Outlook” for these aforesaid series, from TRIS Rating. On August 1, 2022, XPCL used the total proceeds from such debentures to repay the loans to reduce the financial cost.
the Company made the dividend payment from the operating results for 2021 at the rate of Baht 0.080 per share in the total amount of approximately Baht 650.4 million, representing 74.6 percent of the net profit under the separate financial statements.
LPCL executed the Tariff Memorandum of Understanding (Tariff MOU) for the Luang Prabang Hydroelectric Power Project with EGAT. Currently, LPCL is in the process of negotiation with EGAT on the terms and conditions of the Power Purchase Agreement.
In April, May and October 2022, the Company gradually paid for the newly issued shares in the total amount of Baht 1,209.6 million in proportion to its investment in LPCL.
XPCL received a corporate rating of “A-/Stable” outlook from TRIS Rating, reflecting the reliable cash flow from XPCL’s long-term Power Purchase Agreement with EGAT, the favorable contractual framework of the Power Purchase Agreement, and XPCL’s competitive electricity generation cost.
TRIS Rating affirmed NN2’s corporate rating of “A/Stable” outlook, and affirmed an issue rating of “A/Stable” outlook for all series of NN2’s unsecured, unsubordinated debentures.
TRIS Rating affirmed the Company’s corporate rating of “A/Stable” outlook, and affirmed an issue rating of “A/Stable” outlook for all series of the Company’s unsecured, unsubordinated debentures.

Year 2021

The Company joined the Task Force on Climate-related Financial Disclosures Supporter (TCFD Supporter), reflecting the Company’s commitment to improving financial disclosure and assessment of climate-related financial risks to meet international standards.

The Company received the Asset ESG Corporate Awards 2021, Gold level. The Asset was Asia’s leading financial magazine. The Awards reflected the Company’s sustainable business operation and priority given to all stakeholders in all dimensions of ESG in accordance with international standards.

The Company received the Asian Power Awards 2021 in Innovative Power Technology of the Year – Thailand. The Award recognized the Company for its development of project and innovation to reduce the use of energy, minimize the environmental impact, and reduce costs without causing any impact on the electricity production of the Bangpa-In Cogeneration Power Plants of the Company.

The Company received the “Excellent” Corporate Governance (CG) score from the Corporate Governance Report of Thai Listed Companies 2021 published by Thai Institute of Directors Association, the Company’s 4th consecutive year of achieving such score.

The Company issued and offered for sale the unsubordinated and unsecured debentures No. 2/2021 with debentureholders’ representative and with the issuer’s right to early redemption, in the amount of Baht 2,000 million, with the maturity of ten years, at the interest rate of 3.58 percent per annum, to repay the short-term loans from the financial institutions, and to use as working capital, with the Company receiving an issue rating of “A-/Stable” for this issued debenture.

The company paid for the newly issued shares in the amount of Baht 504 million in proportion to its investment in LPCL.

The Company was included in the Thailand Sustainability Investment or THSI list of 2021 by the Stock Exchange of Thailand. This has been the Company’s 2nd consecutive year of such achievement, reflecting the Company’s commitment to operating a sustainable business which supports all dimensions of environment, social, and corporate governance (ESG).

The Company made payment for the purchase of XPCL’s additional shares by 5.0 percent as approved by the 2021 Annual Ordinary General Meeting of Shareholders. The Company used a short-term loan of Baht 1,800 million and cash flow from its operations for such share payment.

The Company issued and offered for sale the unsubordinated and unsecured debentures No. 1/2021 with debentureholders’ representative, in the amount of Baht 4,000 million, to rollover the debentures maturing in the second quarter of 2021, to acquire assets or invest in business and to use as working capital. The debentures were divided into series; namely:

  • Baht 1,500 million Debentures with a maturity of three years at the interest rate of 1.74 percent per annum;
  • Baht 1,000 million Debentures with a maturity of five years at the interest rate of 2.45 percent per annum; and
  • Baht 1,500 million Debentures with the issuer’s right to early redemption and a maturity of seven years at the interest rate of 3.02 percent per annum.

The Company received a corporate rating of “A/Stable” and an issue rating of “A-/Stable” for all of their series, including these aforesaid series, from TRIS Rating.

The Company made the dividend payment from the operating results for 2020 at the rate of Baht 0.0350 per share in the total amount of Baht 284.5 million, representing 45.6 percent of the net profit under the separate financial statements.

TRIS Rating affirmed the Company’s corporate rating of “A/Stable” and also affirmed the Company’s issue rating for all unsubordinated and unsecured debentures of “A-/Stable”.

The 2021 Annual Ordinary General Meeting of Shareholders resolved to approve the purchase of XPCL’s additional shares by 5.0 percent of XPCL’s registered capital from PT Sole Company Limited (PTS), in the total amount of approximately Baht 1,826.55 million (at the price of not exceeding Baht 13.60 per share), thereby resulting in an increase in the Company’s shareholding percentage in XPCL from 37.5 percent to 42.5 percent.

The Company paid for the newly issued shares in the amount of Baht 2,170.56 million in proportion to its investment in LPCL.

Year 2020

The Company won the IR Magazine Awards 2020 South East Asia in the category of Best Crisis Management. The award recognized the achievement of Xayaburi Hydroelectric Power Plant in engaging with its stakeholders to foster a clear understanding of how the power plant manages its electricity production in conjunction with its water and environmental resource management system.

The Company issued and offered for sale the name-registered, unsubordinated, unsecured debentures No.1/2020 with debentureholders’ representative, in the amount of Baht 4,000 million. The Company plans to use the issuance proceeds to rollover the debentures maturing in the second quarter of 2021, to acquire assets or invest in business and to use as working capital. The debentures were divided into series; namely:

  • Baht 1,000 million Debentures with a maturity of two years at the interest rate of 2.31 percent per annum;
  • Baht 1,500 million Debentures with a maturity of three years at the interest rate of 2.62 percent per annum; and
  • Baht 1,500 million Debentures with the issuer’s right to early redemption and a maturity of seven years at the interest rate of 3.76 percent per annum.

The Company received an “Excellent” CG Score rating from Corporate Governance Report of Thai Listed Companies 2020 published by Thai Institute of Directors Association. This has been the Company’s 3rd consecutive year of achieving such score.

The Company acquired shares in Luang Prabang Power Company Limited (“LPCL”) accounting for 42 percent of LPCL’s registered capital from PT Sole Company Limited, totaling Baht 12.82 million, for feasibility study and development of the Luang Prabang Hydroelectric Power Project in Luang Prabang Province, the Lao PDR.

The Company was included in the Thailand Sustainability Investment or THSI list of 2020 by the Stock Exchange of Thailand, reflecting the Company’s intent to operate a sustainable business that supports environment, community, and good corporate governance.

The Khlong Preng Solar Power Plant, with the installed capacity of 2.67 MW, which is a solar farm power plant under BKC’s investment, commenced its electricity distribution to the private-sector operator.

NN2 issued and offered for sale the name-registered, unsubordinated, unsecured, debentures No. 2/2020, with debentureholders’ representative, in the amount of Baht 1,000 million to rollover the maturing debentures and to reduce the financial cost, divided into:

  • Baht 400 million Debentures with a maturity of three years at the interest rate of 3.20 percent per annum; and
  • Baht 600 million Debentures with a maturity of five years at the interest rate of 3.60 percent per annum.

The Company received Asian Power Awards 2020 in Silver Label under 2 categories, namely:

  • Natural Gas-fired Power Project of the Year
  • Environmental Upgrade of the Year – Thailand

The Awards recognized the Company for its development of project and innovation to reduce the use of natural resource, minimize the environmental and social impacts, and achieve cost savings from reduction in electricity use.

TRIS Rating affirmed NN2’s corporate rating of “A/Stable” and also affirmed NN2’s issue rating for all debenture series of “A/Stable”.

NN2 secured Baht 1,000 million committed facilities from a financial institution for the Company’s liquidity management.

The 2020 Annual Ordinary General Meeting of Shareholders of the Company approved the extension of credit limit for issuance and offering of debentures to not exceeding Baht 20,000 million from the previous credit limit of not exceeding Baht 10,000 million. The proceeds would be used for the Company’s business expansion and liquidity management.

The Company secured Baht 4,000 million committed facilities from a financial institution for the Company’s business expansion and liquidity management.

The Company became a member of the United Nations Global Compact (UNGC) Thailand to operate its business to support UNGC’s principles of human rights, labor, environment and anti-corruption. Moreover, the Company aims to operate its business to achieve United Nations Sustainable Development Goals (UNSDGs). At present, 9 out of 17 goals of UNSDGs have already been embedded into the Company’s business strategy.

The last exercise date of CKP-W1. The Company registered the capital increase on May 29, 2020. After the capital increase registration, the Company’s paid-up capital and share premium increased to Baht 8,129.4 million and Baht 13,319.2 million, respectively.

The Company paid the interim dividend from the operating results for 2019 due to the postponement of the 2020 Annual Ordinary General Meeting of Shareholders’ from the COVID-19 pandemic situation. The dividend payment was made at the rate of Baht 0.0300 per share, in the total amount of Baht 243.9 million, representing the dividend payment rate of 42.8 percent of the net profit under the separate financial statements.

TRIS Rating affirmed the Company’s corporate rating of “A/Stable” and also affirmed the Company’s issue rating for unsubordinated and unsecured debentures of “A-/Stable”.

NN2 issued and offered for sale the name-registered, unsubordinated, unsecured, debentures No. 1/2020, with debentureholders’ representative, in the amount of Baht 600 million, with a maturity of five years, at the interest rate of 2.45 percent, through the Private Placement to rollover the maturing debentures and to reduce the financial cost.

On February 21, 2020, TRIS Rating affirmed NN2’s corporate rating of “A/Stable” and also affirmed NN2’s debentures for all series of “A/Stable”.

Year 2019

The Xayaburi Hydroelectric Power Plant, with the installed capacity of 1,285 MW, 1,220 MW of which shall be distributed to EGAT and 60 MW of which shall be distributed to Electricite du Laos, with the commencement of the commercial operation by distributing electricity to EGAT on October 29, 2019 according to schedule specified in the Power Purchase Agreement with EGAT.

the Company received an “Excellent” CG Score rating from Corporate Governance Report of Thai Listed Companies 2019 published by the Thai Institute of Directors Association.

there were 165.1 million shares exercised under CKP-W1, equivalent to Baht 990.9 Million. The Company registered the capital increase on October 1, 2019, and after the capital increase registration, the Company’s registered capital increased to Baht 8,129.4 Million.

there were 594.2 million shares exercised under CKP-W1, equivalent to Baht 3,565.4 Million. The Company registered the capital increase on July 1, 2019, and after the capital increase registration, the Company’s registered capital increased to Baht 7,964.2 Million.

Bangpa-In Cogeneration Power Project 1 underwent the Major Overhaul according to plan.

the Company paid the dividend from the operating results of the year 2018 at the rate of Baht 0.0280 per share, in the total amount of Baht 206.4 Million, representing the dividend payment rate of 85.7 percent of the net profit under the separate financial statements

the Company purchased additional shares in SEAN accounting for 5.33 percent from PT Holding Limited, totaling Baht 681.5 Million, with SEAN being the major shareholder in NN2, a subsidiary engaging in the Company’s main business, thereby resulting in an increase in the Company’s shareholding percentage in SEAN from 56.0 percent to 61.33 percent of the registered capital and an increase in its proportion of indirect investment in NN2 from 42.0 percent to 46.0 percent.

TRIS Rating affirmed the Company’s corporate rating of “A/Stable Outlook”, and also affirmed the Company’s issue rating for unsubordinated and unsecured debentures of “A-/Stable Outlook”

NN2 issued and offered for sale the name-registered, unsecured, unsubordinated debentures No. 1/2019, with debentureholder representative, in the amount of Baht 6,000 Million divided into:

  • the amortizing repayment-typed debentures with a maturity of three years, at the interest rate of 3.18 percent per annum, in the amount of Baht 3,200 Million;
  • the debentures with a maturity of four years, at the interest rate of 3.44 percent per annum, in the amount of Baht 800 Million; and
  • the amortizing repayment-typed debentures with a maturity of eight years, at the interest rate of 3.88 percent per annum, in the amount of Baht 2,000 Million, with the issuer’s right to early redemption;

NN2 utilized the proceeds from the issuance and offering for sale of the debentures to repay all outstanding loans from the financial institutions to reduce the financial cost

TRIS Rating affirmed NN2’s corporate rating of “A/Stable Outlook” and also upgraded NN2’s issue rating for all debenture series to “A/Stable Outlook”.

BKC invested in six Solar Rooftop and Solar Farm Power Plants, as follows:

  • Solar Rooftop Power Plant in Amphoe Phachi, Phra Nakhon Si Ayutthaya Province (“Phachi Solar Power Plant”), with the installed capacity of 0.89 MW, with the commencement of the electricity distribution to the private-sector operator in February 2019.
  • Solar Rooftop Power Plant in Amphoe Banglen, Nakhon Pathom Province (“Banglen Solar Power Plant”), with the installed capacity of 0.97 MW, with the commencement of the electricity distribution to the private-sector operator in May 2019.
  • Solar Rooftop Power Plant in Amphoe Sampran, Nakhon Pathom Province (“Phutthamonthon Sai 5 Solar Power Plant”), with the installed capacity of 0.97 MW, with the commencement of the electricity distribution to the private-sector operator in June 2019.
  • Solar Rooftop Power Plant in Amphoe Mueang Samut Sakhon, Samut Sakhon Province (“Mahachai Solar Power Plant”), with the installed capacity of 0.72 MW, with the commencement of the electricity distribution to the private-sector operator in June 2019.
  • Solar Rooftop Power Plant in Amphoe Krathum Ban, Samut Sakhon Province (“Krathum Ban Solar Power Plant”), with the installed capacity of 0.51 MW, with the commencement of the electricity distribution to the private-sector operator in July 2019.
  • Solar Farm Power Plant in Amphoe Khlong Preng, Chachoengsao Province (“Khlong Preng Solar Power Plant”), with the installed capacity of 2.67 MW, which was currently under construction.

NN2 entered into the Nabong Substation Lease Agreement with the Government of the Lao PDR after completion of the upgrade of the voltage and the construction of the Nabong Substation, with effect from January 1, 2019.

Year 2018

The construction progress of the Xayaburi Project was approximately 97 percent. It was expected to commence commercial operation in late 2019.

score in the corporate governance survey of listed companies for 2018 by the Thai Institute of Directors Association.

NN2 completed the Nabong Substation upgrade to accommodate transmission of electricity from various projects having the power purchase agreements with the Electricity Generating Authority of Thailand.

sale unsecured, unsubordinated debentures No.1/2018, without debentureholder representative, and with the issuer’s right to early redemption, in the amount of Baht 6,500 Million, divided into the debentures with a maturity of three years, at the fixed interest rate of 2.56 percent per annum, in the amount of Baht 4,000 Million; and the debenture with a maturity of ten years, at the fixed interest rate of 4.06 percent per annum, in the amount of Baht 2,500 Million. The Company received a corporate rating of “A/Stable”, and received an issue rating of “A-/Stable” from TRIS Rating. The Company utilized the proceeds from the issuance and offering for sale of such debentures to repay the debentures No. 1/2016 issued and offered for sale in 2016 in the amount of Baht 4,000 Million and to pay for the shares in XPCL additionally acquired by the Company from BEM representing 7.5 percent in the amount of Baht 2,065 Million. The remainder of the proceeds was to be used for capital increase in XPCL which would gradually call for the payment until completion of the construction of the project.

The board of directors’ meeting of BKC resolved to approve the investment in six solar rooftop and solar farm projects for production and distribution of electricity to the privatesector operators, with the total installed capacity of 6.7 MW. The construction commenced from the third quarter of 2018 and was expected to commence the production and commercial distribution of electricity in 2019.

The Company made the dividend payment from the operating results for 2017 at the rate of Baht 0.0225 per share in the total amount not exceeding Baht 165.8 Million, representing 57.9 percent of the net profit under the separate financial statements.

The 2018 Annual Ordinary General Meeting of Shareholders of the Company resolved to approve the acquisition of shares in XPCL representing 7.5 percent of XPCL’s registered capital in the total amount of approximately Baht 2,065.0 Million from BEM, as well as approving the share payment in proportion to its shareholding percentage in XPCL until completion of the construction of the Xayaburi Project, in the amount of approximately Baht 399.2 Million.

NN2 issued and offered for sale the name-registered, unsecured, unsubordinated, amortizing debentures No. 1/2018 with a debentureholder representative, and the issuer’s right to early redemption, in the amount of Baht 3,000 Million, with a maturity of 12 years, at the interest rate of 3.98 percent per annum. NN2 received a corporate rating of “A/Stable”, and an issue rating of “A-/Stable” from TRIS Rating. NN2 utilized the proceeds from the issuance and offering for sale of such debentures to repay the USD loans to minimize the finance cost.

Year 2017

NN2 issued and offered for sale the debentures No. 1/2017 to institutional investors and high net worth investors, in the amount of Baht 6,000 Million, divided into the debentures with a maturity of three years, at the interest rate of 2.59 percent per annum, in the amount of Baht 1,000 Million; the debentures with a maturity of seven years, at the interest rate of 3.48 percent per annum, in the amount of Baht 1,400 Million; and the debentures with a maturity of ten years, at the interest rate of 3.69 percent per annum, in the amount of Baht 3,600 Million. The debentures was name-registered, unsecured, unsubordinated debentures, with debentureholder representative. In this regard, NN2 received a corporate rating of “A/Stable”, and received an issue rating at “A-/Stable” from TRIS Rating Co., Ltd. (”TRIS Rating”).

The Extraordinary General Meeting of Shareholders of NN2 No.1/2017 resolved to grant approval for NN2 to issue and offer for sale the debentures for debt repayment to financial institutions in the amount and the outstanding value of the debentures not exceeding the existing long-term loan obligations of NN2 owed to the financial institutions, in Baht currency and/or equivalent in foreign currency, whereby the debentures can be issued and offered for sale in one or several series, on a single or several occasions

BIC called for the payment of the remaining ordinary share capital increase for investment in BIC2 and as a result, BIC’s current registered capital was fully paid-up at Baht 2,705 Million.

The Bangpa-in Cogeneration Project 2 (BIC2) commenced its commercial operation. BIC2 has an installed capacity of 120 MW. It has the Power Purchase Agreement with EGAT in the amount of 90 MW for a period of 25 years from the Commercial Operation Date and distributes the remaining electricity to industrial operators in the Bangpa-in Industrial Estate.

The Company made the dividend payment from the operating results for 2016 at the rate of Baht 0.06 per share, in the total amount of Baht 442.2 Million.

Year 2016

NN2 entered into the long-term loan agreement with the lending financial institutions for refinancing of existing long-term loans and additional financing for the upgrade of the Nabong Substation. This achievement resulted in a decrease of NN2’s financial costs and enhanced NN2’s liquidity.

The Company issued and offered for sale the debentures No. 1/2016 to institutional investors and/or high net worth investors, in the total amount of Baht 4,000 Million, with a maturity of three years, at the interest rate of 4 percent per annum. The debentures was name-registered, unsecured, unsubordinated debentures, with debentureholder representative and the issuer’s right to early redemption.

The Company’s 2016 Annual Ordinary General Meeting of Shareholders resolved to grant approval as follows:

  • Approval was granted for the Company to issue and offer for sale the debentures in the total amount not exceeding Baht 10,000 Million or equivalent in other currency.
  • Approval was granted for NN2 to execute a connected transaction for engagement of CH. Karnchang (Lao) Co., Ltd. (“CHK”) for the upgrade of voltage and the construction of the 230/500 kV Nabong Substation, in the total amount of Baht 799.85 Million and USD 39.11 Million (exclusive of value added tax), in order to accommodate the power transmission from various projects having the power purchase agreements with the Electricity Generating Authority of Thailand (“EGAT”). The construction was scheduled to be completed by May 2018.

The Company made the dividend payment from the operating results for 2015 at the rate of Baht 0.02 per share, in the total amount of Baht 164.4 Million.

Year 2015

  • 1,870 million units of CKP-W1 started trading on the Stock Exchange. As at June 28, 2019, shareholders converted CKP-W1 to ordinary share in amount of 594 million shares.
  • The Company acquired 805,830,000 shares in XPCL from CK representing 30 percent of its registered capital, in the total amount of approximately Baht 4,344 Million.

1,870 million newly issued ordinary shares started trading on the Stock Exchange.

The Company decreased the par value per share from Baht 5 to Baht 1 and increased the Company’s registered capital by Baht 3,740 Million, the total registered capital then amounted to Baht 9,240 Million, divided into:

  • 1,870 million of newly issued ordinary shares for offering for sale to the existing shareholders in proportion to their shareholding percentage (Rights Offering) with the resulting registered and paid-up capital amounted to Baht 7,370 Million.
  • 1,870 million of ordinary shares to accommodate the exercise of the right to convert the warrants to purchase the Company’s newly issued ordinary shares (CKP-W1) in the amount of 1,870 million units.

The Company made the dividend payment from the operating results for 2014 at the rate of Baht 0.1 per share in the total amount of Baht 110 Million, representing the first dividend payment of the Company.

Year 2014

The Company’s Extraordinary General Meeting of Shareholders No. 1/2014 resolved to grant approval for BIC to execute a connected transaction for engagement of CK, the Company’s major shareholder, as EPC Contractor for construction of the Cogeneration Power Project 2 (“BIC2”), with a total value not exceeding Baht 4,310 Million. BIC2 was scheduled to start the construction on January 1, 2015, for a period of 29 months and commence its commercial operation in the middle of 2017.

The 2014 Annual Ordinary General Meeting of Shareholders resolved to grant approval for the Company to transfer the share premium in the amount of Baht 170 Million to offset the Company’s deficit in the Company’s separate financial statements.

Year 2013

The Company started trading its ordinary shares on the Stock Exchange of Thailand.

The Company registered its conversion into a public company and change of its name to CK Power Public Company Limited.

The Company decreased its registered capital from Baht 9,200 Million to Baht 3,066.7 Million, divided into 306.7 million ordinary shares at the par value of Baht 10 each. The capital decrease was made to return the decreased capital to the shareholders in proportion to their shareholding percentage. Subsequently, in February 2013, the Company increased its registered capital to be Baht 4,600 Million for sale to the existing shareholders inproportion to their shareholding percentage, and reduce the par value per share from Baht 10 each to Baht 5 each. Concurrently, the Company also increased its registered capital from Baht 4,600 Million to Baht 5,500 Million by issuance of new 180 million ordinary shares at the par value of Baht 5 each for public offering.

The Company acquired additional 26,029,999 shares in BIC, representing 19 percent of its registered capital, from Bangpa-in Land Development Co., Ltd., and as a result, the Company held a total of 89,049,998 shares in BIC, or 65 percent of BIC’s registered and fully paid-up capital</p>

Year 2012

The Company acquired from CK ordinary shares in two solar power production and distribution companies and a cogeneration power project, as follows:

  • 875,250 shares in CRS, representing 30 percent of its registered capital, 95 percent of which was paid-up.
  • 63,019,999 shares in BIC, representing 46 percent of its registered and fully paid-up capital

The Company acquired additional 8,809,000 shares in SEAN from TEAM Consulting Engineering and Management Co., Ltd., representing 1.3 percent of its registered capital, thereby resulting in the Company’s shareholding in SEAN totaling 369,977,999 shares, or 56 percent of its registered and fully paid-up capital.

The Company acquired ordinary shares in two companies operating in the business of solar power production and distribution from CK, as follows:

  • 2,342,498 shares in BKC, representing 100 percent of its registered and fully paid-up capital.
  • 664,500 shares in NRS, representing 30 percent of its registered capital, 85.06 percent of which was paid-up.

The Company acquired additional 110,112,500 ordinary shares in SEAN from Bangkok Expressway Public Company Limited (BECL)1, representing 16.7 percent of its registered capital, and as a result, the Company held a total of 361,168,999 shares in SEAN, representing 54.7 percent of its registered and fully paid-up capital.

Year 2011

The Company was registered for its incorporation with the registered capital of Baht 1,000,000, with the objective to become the center of CH. Karnchang Group’s focus on investment in the business of production and distribution of electricity generated from various types of energy sources.

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