CKPower gains momentum from XPCL and reveals its operational results for the first nine months of 2026, utilizing a water forecasting system to enhance the efficiency of power production planning for the remaining year.
Mr. Thanawat Treewisawavet, Managing Director of CK Power Public Company Limited (CKPower, stock symbol: CKP), one of the largest renewable energy producers in the region with one of the lowest carbon footprints, revealed that the performance of the Xayaburi Hydropower Plant is a key supporting factor for CKPower's results. The company recognized a core share of profit from Xayaburi Power Company Limited (XPCL) for the nine-month period in 2026 of 1.325 billion baht, an increase of 200 million baht or 18% from the same period last year, driven by higher electricity sales volume and lower financial costs.
CKPower reported a core net profit of 1.102 billion baht for the first nine months of 2026, down 33% from the same period last year. The main factors were reduced electricity sales revenue from Nam Ngum 2 Power Company Limited (NN2) compared to the previous year’s high base, which benefited from above-average water inflows in 2025, combined with higher fuel costs for Bang Pa-In Cogeneration Company Limited (BIC) due to ongoing geopolitical conflicts in the Middle East.
As of the end of September 2026, the water level at the Nam Ngum 2 Hydropower Plant reservoir was 366 meters above mean sea level, close to the normal average, despite impacts from El Niño in the third quarter. Meanwhile, average water flow through the Xayaburi Hydropower Plant remained strong, similar to last year, allowing full-capacity production. The company closely monitors water conditions in the fourth quarter of 2026 and employs a Hydrometeorological Monitoring and Forecasting System to support power production planning suitable to conditions. It anticipates the Xayaburi plant will benefit from good water volumes released gradually from the upper Mekong River dam reservoirs in China during early 2027. The Luang Prabang Hydropower Project’s construction progress reached 82% at the end of September 2026, in line with the planned schedule.
As of 30 September 2026, the company had a liquidity ratio of 2.26 times and maintained a low net interest-bearing debt to equity ratio of 0.52 times, reflecting prudent liquidity management and debt servicing capacity. The company continues to monitor interest rate trends and manages its long-term debt structure appropriately on an ongoing basis.
Mr. Thanawat stated that regarding the draft Power Development Plan (PDP 2026), which aims to increase the share of renewable energy and promote clean electricity trading, CKPower sees opportunities to expand investments and develop its renewable energy business. The focus is on increasing solar power capacity through Private Power Purchase Agreements (Private PPAs) and participating in government renewable energy tenders. In September 2026, solar power plants of Bangkhenchai Company Limited (BKC), in collaboration with Bangkok Expressway and Metro Public Company Limited, comprising two plants with a total installed capacity of 7 MW, began commercial operation to support the country's mass transit system. Additionally, the company continues to seek opportunities to sell Renewable Energy Certificates (RECs) to meet the growing demand for clean energy from business and industry sectors, supporting Thailand's clean energy transition.
About CK Power Public Company Limited (CKPower)
The company operates electricity production and sales across three types of energy through 18 facilities, with a total installed capacity of 3,640 megawatts. These include (1) three hydropower plants: Nam Ngum 2 Power Company Limited, in which CKPower holds a 46% stake (via Southeast Asia Energy Company Limited), with an installed capacity of 615 megawatts; Xayaburi Power Company Limited, where CKPower holds 42.5%, with 1,285 megawatts installed capacity; and the Luang Prabang Hydropower Project under Luang Prabang Power Company Limited, with a 50% stake and 1,460 megawatts installed capacity. (2) Two combined heat and power plants under Bang Pa-In Cogeneration Company Limited, where CKPower holds 65%, with a total installed capacity of 238 megawatts; and (3) thirteen solar power plants under Bangkhenchai Company Limited, wholly owned by CKPower, comprising 11 plants with 28 megawatts installed capacity; Nakhon Ratchasima Solar Company Limited, 30% owned, with one plant of 6 megawatts; and Chiang Rai Solar Company Limited, 30% owned, with one plant of 8 megawatts.