Emergency Cessation of Hongsa Power Plant after 5.9 Magnitude Earthquake, BPP Falls 3%!

The share price of Banpu Power Public Company Limited (BPP) as of 12:07 local time in Thailand on November 21, 2019, was ฿17.70/share, plunged ฿0.50/share or 2.75%. The highest price of the session was ฿18.20/share and the lowest was ฿17.50/share with a trading value of 72.7 million baht.

The plummet in BPP’s share price might due to the concern over the 5.9 magnitude earthquake that occurred last night, having an epicenter in Laos which is in the area of Hongsa Power Company Limited (HPC)’s Hongsa Power Plant

HPC is a joint venture between Banpu Power Limited (BPP), holding 40% stake, RATCH Group Holding Public Company Limited (RATCH), holding 40% stake, and Lao Holding State Enterprise (LHSE), holding 20%. The aim of this project is to develop and operate a 1,878 MW lignite mine mouth power plant.

HPC announced that the Hongsa Power Plant unit 1 and 2 had to cease operation due to an emergency signal of high vibration when the earthquake occurred. Hansa’s third unit had to cease the operation not long after due to an aftershock of the earthquake. It is expected that the Hongsa Power Plant will be closed for at least two days.