EGCO Group wins "Green Financing Deal of The Year" from The Asset Triple A Sustainable Infrastructure Awards 2024

Wednesday 10 July 2024 11:34
Electricity Generating Public Company Limited or EGCO Group led by President, Dr. Jiraporn Sirikum, together with EGCO Group's top management received the prestigious "Green Financing Deal of the Year" from The Asset Triple A Sustainable Infrastructure Awards 2024. This recognition applauds EGCO Group's successful inaugural Green Debentures issuance of THB 7 billion issued in November 2023, a move that reinforces the Company's commitment to advancing its sustainability objectives. The Asset Triple A Sustainable Infrastructure Awards organized by The Asset Magazine, a leading financial magazine in Asia, to honor institutions and transactions across Asia that have a made meaningful impact on the infrastructure development within the region. The award presentation ceremony was held in Singapore on 9 July 2024.
EGCO Group wins Green Financing Deal of The Year from The Asset Triple A Sustainable Infrastructure Awards 2024

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