CKPower Public Company Limited (CKP) announced a dramatic 234% year-over-year surge in its core net profit for the first nine months of 2025, which reached Baht 1,643 million. The company, one of the region’s largest renewable energy producers , attributed the robust performance primarily to optimal water flows at its key hydroelectric facilities and declining financial costs.
The strong results were underpinned by the Xayaburi Hydroelectric Power Plant (XPCL), which experienced favorable water flow through the first nine months of the year, enabling uninterrupted power generation. This resulted in a 27% increase in electricity sales volume compared to the same period last year. Consequently, CKPower recognized a share of core operating profit from XPCL of Baht 1,125 million for the nine-month period.
Performance was further bolstered by the Nam Ngum 2 Power Company Limited (NN2), which recorded higher electricity sales revenue following increased water inflows. NN2 saw a 26% increase in electricity sales volume year-over-year , with inflows in July 2025 reaching the highest level since its commercial operations began , partly due to Tropical Storm “Wipha”.
For the third quarter of 2025 alone, the company reported a core net profit of Baht 1,227 million, representing a 110% increase year-over-year.
Thanawat Trivisvavet, Managing Director of CKPower , noted that the high reservoir level at NN2 is expected to support electricity generation well into the first quarter of 2026. “The downward trend in policy interest rates in both the United States and Thailand is expected to help reduce financial costs and continue to support CKPower’s operating performance into 2026,” Mr. Thanawat added.
In other developments, the Luang Prabang Hydroelectric Power Project was 59% complete as of the end of September 2025, in line with its plan.
The company also maintained a solid financial position as of September 30, 2025. Its Net Interest-bearing Debt to Equity Ratio remained low at 0.53 times, while the Interest Coverage Ratio stood at a robust 6.50 times, underscoring strong financial health and effective debt management.
“CKPower remains committed to driving growth through the development of renewable energy and enhancing energy security, while contributing to Thailand’s transition toward a low-carbon society,” concluded Thanawat, referencing the company’s goal to achieve net-zero greenhouse gas emissions by 2050.
