Dr. Jiraporn Sirikum, EGCO Group's President, said, "The award underscores EGCO Group's success in green bond issuance, which is in accordance with our "Cleaner, Smarter and Stronger to drive sustainable growth" business direction. EGCO Group focuses on growing power generation capacity from renewable and clean energy in its portfolio to achieve its short-term goal on increasing renewable capacity up to 30% of the total capacity by 2030. In addition, we are improving our conventional power plants to become more environmentally friendly by the implementation of cutting-edge technologies in sustainably support of the energy transition in Asia."
EGCO Group offered its first green debentures of five tranches with a total issue size of THB 7 billion under private placement to institutional and high-net-worth investors in November 2023. The debentures were well received and trusted by more than 80 investors who have indicated demand of an equivalent of 3.15 times over the company's initial target issue size of THB 6.5 billion. Thus, EGCO Group has seized the opportunity to exercise THB 500 million greenshoe option to accommodate and expand its investors base. These issuances received an AA+ rating from TRIS Rating Co., Ltd. and were under EGCO Group's newly established THB 30 billion MTN program in 2023. The Joint Lead Arrangers and Joint Green Structuring Advisors are Bangkok Bank, Krungthai Bank, and Bank of Ayudhya.
Source: Electricity Generating