Electricity Generating Public : EGCO Group Rated “AA+” with “Stable” Outlook by TRIS Rating

Electricity Generating Public Company Limited or EGCO Group has been assigned a company rating of "AA+" with a "stable" rating outlook by TRIS Rating. The rating reflects EGCO Group's position as one of the leading power producers in Thailand, with an excellent track record, well-diversified portfolio, and strong liquidity.

Mr. Thepparat Theppitak, EGCO Group's President, said, "TRIS Rating, the leading credit rating agency in Thailand, assigned a company rating of "AA+" with a "stable" rating outlook to EGCO Group. The rating reflects EGCO Group's position as one of the leading power producers in Thailand, with an excellent track record and well-diversified portfolio in terms of type of generation, primary fuel used both conventional and renewable, and geography both domestic and aboard. The Company has also highly predictable cash flows underpinned by long-term PPAs. Moreover, TRIS Rating considered EGCO Group being a strategic affiliate of EGAT as its major shareholder."

"It is EGCO Group's great delight to receive credibility from TRIS Rating. Despite the challenging global situations and increasing economic uncertainty due to the COVID-19 pandemic, EGCO Group has continually thrived on business expansion. We concentrate on power business, especially in renewable and clean energy. At the same time, we are expanding our energy-related businesses including Fuel and Infrastructure, and Smart Energy Solution businesses in order to create portfolio balance and add value to the core business. This is to address the transition of the energy business. Coupled with business development, we are committed to integrating Environmental, Social and Governance (ESG) guidelines and practices to business operation over 3 decades to nurture mutual sustainable growth of all stakeholders," concluded Mr. Thepparat.

About EGCO Group
EGCO Group has currently a total equity contracted capacity of 6,016 MWe. This includes 29 commercially operating power plants with total equity contracted capacity of 5,695 MWe, and two power plants under construction representing total equity contracted capacity of 321 MWe. From the portfolio, the total power generated from renewable energy, including biomass, hydropower, solar power, wind power, thermal power and fuel cells, is 1,364 MWe.

EGCO Group's power plants are located in eight countries, namely Thailand, Lao PDR, Philippines, Indonesia, Australia, South Korea, Taiwan and USA. In addition, it has energy-related businesses, including oil pipeline extension to the northeastern region project and EGCO Rayong Industrial Estate Project, obtaining the shipper license to source and supply Liquefied Natural Gas in Thailand, as well as establishing a joint venture called Innopower Co., Ltd. as EGAT Group's flagship energy innovation and the new S-Curve business.