CKPower revealed that its net profit in Q1 2026 continued to grow despite the dry season. Its renewable energy portfolio reflects resilience amid energy price volatility. The company is moving forward with El Niño preparedness through a water forecasting system.
On 12 May, Mr. Thanawat Treewisavet, Managing Director of CKPower Public Company Limited, a renewable energy producer, stated that in Q1 2026, CKPower's core net profit reached 115.9 million baht, up 52.5 million baht or 82.9% from the same period last year. This growth was driven by strong performance from the company's two hydropower plants. The company recognized a share of core net profit from Sayaburi Power Company Limited (XPCL) of 198.6 million baht, an increase of 190.7 million baht compared to the previous year, due to higher water flow through the Sayaburi hydropower plant, which increased electricity sales. Additionally, XPCL benefited from reduced financial costs following repayment of long-term loans and lower interest rates.Reducedin line with global interest rate trends.
Furthermore, the performance of Nam Ngum 2 Power Company Limited (NN2) improved due to increased electricity sales compared to the previous year, supported by higher water levels in the reservoir at the start of 2026 and increased inflow during Q1 2026. This resulted in CKPower's continued growth in Q1 despite the dry season.
Mr. Thanawat added that CKPower's energy production structure, predominantly renewable, insulated its operations from unrest in the Middle East and global energy price volatility. The impact was limited to fuel costs for electricity sold to industrial customers of Bang Pa-in Cogeneration Company Limited (BIC), which accounts for about 3% of CKPower's total electricity production.
Given climate forecasts indicating a possible El Niño event in the second half of 2026, the company has prepared by developing a Hydrometeorological Monitoring and Forecasting System to enhance the accuracy and efficiency of water volume forecasts for its hydropower plants. Meanwhile, the Luang Prabang hydropower project was 72% complete by the end of March 2026, on schedule.
Mr. Thanawat further stated that as of 31 March 2026, the company’s liquidity ratio stood at 1.78 times, with net interest-bearing debt to equity remaining low at 0.47 times, reflecting effective liquidity management and debt servicing capability. Should the US and Thai policy interest rates decrease further, CKPower’s financial costs would reduce, supporting ongoing operational performance in 2026. The company will continue to monitor interest rate changes and manage long-term debt appropriately.
For its 5-year plan (2026-2030), CKPower aims to expand capacity from solar power projectsboth through Private Power Purchase Agreements (PPAs) and participation in government renewable power auctions, alongside selling Renewable Energy Certificates (RECs).In 2025, CKPower’s renewable power plants supplied over 10 million megawatt-hours (MWh) to Thailand, representing 17% of the country's renewable electricity consumption, and avoided 5.34 million tons of carbon dioxide equivalent emissions. The company believes renewable electricity is key to the energy transition toward net-zero greenhouse gas emissions by 2050.