The Electricity Generating Public Company (EGCO Group) has reported its third-quarter (Q3) and nine-month 2025 (9M 2025) performance, with hydropower emerging as the largest contributor to operating results.
Strong output from the Nam Theun 2 and Xayaburi hydropower plants in Laos supported steady cash flow and offset pressure from scheduled outages and accounting-related factors.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
In Q3 2025, EGCO Group posted Bt6,928m ($213.5m) in revenue and Bt844m in operating profit, although fair-value adjustments and foreign-exchange impacts resulted in a net loss of Bt656m. The two Laos hydropower plants were the key profit drivers, benefitting from high seasonal water levels. Their performance helped counterbalance weaker contributions from the Quezon power plant in the Philippines, which underwent planned maintenance ahead of its new power supply agreement.
International assets – including Linden Cogen and Compass Portfolio in the US, Paju ES in South Korea, San Buenaventura in the Philippines and CDI Group in Indonesia – also added steady income.
For 9M 2025, EGCO Group recorded Bt29.17bn in revenue, Bt4.35bn in operating profit and Bt5.08bn in net profit. Hydropower again played a central role, supported by contributions from San Buenaventura, Paju ES and US power assets. The company also booked gains from divestments in the RISEC power plant (US) and Boco Rock Wind Farm (Australia) as part of its asset-recycling strategy.
EGCO Group strengthened its US footprint during the period, completing the acquisition of a 49% stake in the 125MW Wheatsborough Solar project and increasing its ownership in the 980MW Linden Cogeneration facility to 38%. The company expects its US assets to benefit from rising demand driven by data centre and AI sector growth.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataLooking ahead, EGCO Group plans to expand its natural gas-fired and renewable power portfolio, with a continued focus on hydropower as a reliable, large-scale renewable source. The company is pursuing new mergers and acquisitions and greenfield opportunities in existing markets, especially the US.
Domestically, EGCO is awaiting results from the second round of the RE Big Lot programme, where it has been shortlisted for 11 projects totalling 448MW. It is also assessing opportunities under Thailand’s direct power purchase agreement policy, which is expected to see growing demand from energy-intensive industries seeking clean, reliable power.
As of 17 November 2025, EGCO Group holds 6.74TW-electrical (TWe) in equity capacity across operating and under-construction projects. Renewable energy accounts for 1.54TWe, with hydropower a major component. The company operates across seven countries and continues to invest in related businesses including engineering services, fuel and utilities infrastructure, customer solutions and energy start-ups.
