CK Power Plc has successfully raised five billion baht through an oversubscribed green bond issuance, reflecting strong investor confidence in the company's financial health and commitment to clean energy and sustainability.
Thanawat Trivisvavet, managing director, said the bonds, issued on June 5, 6, and 9 in four tranches, are unsubordinated and unsecured, with a bondholders' representative. Proceeds will fund the ongoing Luang Prabang Hydroelectric Power Project and repay promissory notes related to the Xayaburi Hydroelectric Power Plant.
The four tranches are one billion baht, 3-year term, 3.15% interest; one billion baht, 4-year term, 3.30% interest; one billion baht, 5-year term, 3.45% interest and two billion baht, 10-year term, 3.90% interest.
"All tranches received an 'A-' credit rating with a 'stable' outlook from TRIS Rating, aligned with our corporate rating," Mr Thanawat said. "We thank our investors and arrangers for their trust and support."
Thanawat Trivisvavet
The green bonds comply with the Green Bond Principles 2021, Green Loan Principles 2025, and the Thailand Taxonomy 2023. Independent verification was provided by DNV. The offering was limited to institutional investors and jointly arranged by Bangkok Bank, Krungthai Bank, CIMB Thai, TMBThanachart Bank, Siam Commercial Bank, and Kiatnakin Phatra Securities.
Mr Thanawat added that in 2024, CKPower's renewable power plants generated over 8.8 million megawatt-hours of electricity, or 16% of Thailand's total renewable energy consumption. This helped avoid 4.4 million tonnes of carbon dioxide equivalent (tCO₂e) emissions.
"CKPower is expanding its hydro and solar portfolios while exploring green finance tools like renewable energy certificates. We remain focused on innovation and efficiency as we work toward our net-zero emissions target by 2050," he said.