EP: Power-Trading Middleman…?

Eastern Printing Public Company Limited (EPCO) or as of present known as Eastern Power Group Public Company Limited (EP) is originally ran a printing business in Thailand, which has been around the block a few times. However, the printing industry is struggling to confront the limitation of business growth, thus EPCO took on more business to increase its business value.

Firstly, EPCO has acquired a 10 MW solar farm located in Bo Phloi District, Kanchanaburi Province from Inter Far East Engineering Public Company Limited (IFEC), which later changed to Inter Far East Energy Corporation Public Company Limited.

EPCO was satisfactorily achieved in revenue contribution, and shortly afterward has expanded its investment to Lopburi Province, Prachinburi Province and overseas such as Japan and Vietnam. 

Consequently, the main income proportion of EPCO has changed from printing business to power plant business, which invested through its subsidiary Eastern Power Group Plc. (EP).

EPCO was intentionally planned to spin off its subsidiary, EP, to be listed on SET, but then changed its plan to change only the name of the company.

EP is running its business with an interesting model, first, acquire the business, then invest or develop and finally, sell to other investors – or EP will convert itself to be a middleman…?

In 2019, EP has approved the sale of two solar power plants with a total installed capacity of 99.216 MW in VIetnam to BG Container Glass Public Company Limited (BGC) in the amount of 1,259 million baht, collecting a money of 520 million baht….

Recently, EP has sold 4 solar farms, comprised of 2 solar plants located in Bo Phloi District, a 5 MW plant in Lopburi Province and a 5 MW plant in Prachinburi Province, with a total installed capacity of 20 MW, to BCPG Public Company Limited (BCPG) in the amount of 871 million baht.

Interestingly that what is the key strategy of EP…to be a power plant developer…or to be an investor…?

Or EP would like to do both…well, it would be worthwhile in long-term investment.

But now many investors might think EP is the merchant middlemen of power generation trade.