Renewable Electricity

Fervo Energy said Thursday that it began selling electricity from its Cape Station power plant to the grid on September 30, one day ahead of schedule, making it the first enhanced geothermal company to reach a key commercial milestone. The plant synchronized with the grid about a week ago, bringing online the first third of what will soon become a 100-megawatt power plant, while the entire site could eventually generate as much as 4 gigawatts. The first block at Cape Station took 23 months from groundbreaking to commercial operations, and Fervo aims to complete future blocks in as little as 18 months. Google, Southern California Edison, and others have committed to buying power from the project. Fervo went public in May in an upsized IPO that raised $1.9 billion, and as a startup it raised more than $1.3 billion from investors including Breakthrough Energy Ventures, Congruent Ventures, and Capricorn Investment Group.

Ørsted has begun construction on Blackwater Solar, a 200 MW solar farm in Roosevelt County, New Mexico, the company's first project in the state. The project, located between Portales and Clovis, will generate enough electricity to power the equivalent of more than 56,000 homes annually within the Southwest Power Pool territory and is backed by a long-term power purchase agreement to meet growing industrial electricity demand in New Mexico. Ørsted sourced the project's solar panels from domestic manufacturer First Solar, and Blackwater Solar is expected to reach commercial operations in late 2027. Alongside the project, Ørsted announced a $100,000 contribution to Playa Lakes Joint Venture to restore an 8.8 acre playa near Melrose, New Mexico, building on a previous partnership in West Texas that helped restore more than 700 acres of playa habitat across five counties. Blackwater Solar is also expected to contribute nearly $18 million in property tax revenue to Roosevelt County over its operating life.

Super Energy Corporation, or SUPER, reported first-half net profit of 859.73 million baht, up 246.64% from the same period a year earlier, on total revenue of 3.94 billion baht. The company is preparing to recognise revenue from two wind power projects in Vietnam, Soc Trang and Bac Lieu, with a combined power purchase agreement capacity of 129 megawatts, which are set to begin commercial operation, or COD, during the remainder of 2026 and will lift SUPER's total capacity to 1,532.86 megawatts from 1,430.88 megawatts at present. As for roughly 3.5 billion baht in receivables owed by Vietnam Electricity, or EVN, the company has already set aside 550 million baht in provisions for the impact and expects payment soon. Meanwhile, financial costs fell 14.38%, bringing the debt-to-equity ratio, or D/E, down to 1.94 times, while EBITDA before foreign exchange effects and one-off items from the sale of investments stood at 3.051 billion baht, or an EBITDA margin of about 80%. The company is continuing to seek new investment opportunities in solar, wind and waste-to-energy power plants, and is watching the 2026 Power Development Plan, or PDP, which, if it opens the door to more renewable capacity, would see the company ready to join bids to build a new long-term growth engine.

Bimergen Energy has authorized an open-market repurchase program for its publicly traded warrants. Under the program, the company said it would deploy capital to reduce future equity dilution and to take advantage of prevailing market pricing. The buyback covers the warrants trading under the symbol BESS.WS, while the company's common shares trade under BESS. No dollar amount or share or warrant count was disclosed for the program.

Bimergen Energy Corporation announced that its Board of Directors has authorized an open-market warrant repurchase program to buy back any or all of its publicly traded warrants, which trade under the ticker BESSWS. The program is intended to opportunistically deploy capital to reduce future equity dilution while taking advantage of then-current market pricing, with purchases to be made from time to time on the open market, through block trades, or via privately negotiated transactions in compliance with federal securities laws and NYSE American requirements. Co-CEO Bob Brilon said the company has not yet established brokerage accounts to execute the authorized buyback, but that the Board's authorization positions management to efficiently use its cash to reduce potential dilution and optimize its equity architecture. Co-CEO Cole W. Johnson said closing transactions for high-quality battery energy storage projects remains the company's focused strategy, and that the flexibility of the buyback program and reduction of equity overhang is viewed as a positive by current and potential strategic partners. The program does not obligate Bimergen to acquire any specific amount of warrants and may be suspended or discontinued at any time, with timing and volume depending on market conditions, liquidity, trading volumes and regulatory requirements.

Asia Plus Securities said that between 23 and 27 September 2026 heavy rain fell across many parts of Thailand, especially the central region, Bangkok and the eastern region, causing flooding in many areas and prompting warnings for flash floods. Meanwhile, the Industrial Estate Authority of Thailand raised its vigilance level for industrial estates in at-risk areas, particularly Bang Pu and three estates in Ayutthaya, namely Nakhon Luang, Bang Pa-in and Ban Wa (Hi-Tech), though no widespread suspension of estate operations has been seen and there have been no reports of large power plants halting operations or stopping electricity supply. The research team sees no direct impact on the power plant group, because core revenue is underpinned by long-term power purchase agreements, and expects the rain to ease within three to five days. BGRIM and GPSC confirmed that electricity supply to customers in the industrial estates remains normal. At the same time, Laos saw heavy rain in the Mekong basin and in the central and northern areas, where several hydropower projects are located, such as Xayaburi, in which CKP holds 42.5%, GPSC 25% and EGCO 12.5%; the Nam Ngum 2 project, in which CKP holds 46% and RATCH 25%; and the Nam San 3A-3B project, wholly owned by BCPG. This is therefore expected to support electricity generation in line with higher rainfall. The research team recommends Selective Buy, picking CKP as its Top Pick with a fair value of 2.90 baht, given the highest share of hydropower business in its portfolio, and expects normalised profit for the third quarter of 2026 to grow quarter on quarter and reach its highest level of the year. BCPG has a fair value of 8.00 baht and remains attractive thanks to a profit base with a high proportion of hydropower plants in Laos, supported by power projects in the United States entering the summer peak season, with third-quarter 2026 profit also expected to reach its highest level of the year. It therefore sees this as an opportunity for short-term trading in line with the seasonal cycle.

Asia Plus Securities said that during September 23–27, 2026, heavy rain fell across many areas of Thailand, especially the central region, Bangkok, and the eastern region, causing flooding in many areas and requiring vigilance for flash floods. Meanwhile, the Industrial Estate Authority of Thailand raised its monitoring level for industrial estates in risk areas, particularly Bang Pu Industrial Estate and three estates in Ayutthaya, namely Nakhon Luang, Bang Pa-in, and Ban Wa (Hi-Tech), but no widespread suspension of operations at industrial estates has been found, and there have been no reports of large power plants halting operations or stopping electricity supply. The research team views that this does not directly affect the power plant group, because core revenue is backed by long-term PPA contracts, and rain is expected to ease within 3–5 days. BGRIM and GPSC confirmed that electricity supply to customers in the industrial estates remains normal. At the same time, during the same period, Laos saw heavy rain in many areas, especially in the Mekong River basin and the central–northern areas, where several hydropower projects are located, such as Xayaburi, in which CKP holds 42.5%, GPSC 25%, and EGCO 12.5%; the Nam Ngum 2 project, in which CKP holds 46% and RATCH 25%; and the Nam San 3A–3B project, wholly owned by BCPG. This is therefore expected to support electricity generation in line with increased rainfall. The research team recommends a Selective Buy strategy, choosing CKP as Top Pick with a fair value of 2.90 baht, given its highest proportion of hydropower business in its portfolio, and expects normal profit for the third quarter of 2026 to grow quarter-on-quarter and reach the year's highest level. As for BCPG, with a fair value of 8.00 baht, it remains attractive due to its profit base with a high proportion of hydropower plants in Laos and support from its power plant project in the United States entering its summer peak period, with third-quarter 2026 profit also expected to reach the year's highest level. It is therefore seen as an opportunity for short-term trading in line with the seasonal cycle.

Zhongmin Energy announced that its controlling subsidiary, Fujian Fuzhou Mintou Offshore Wind Power Convergence Station Company, has signed an EPC general contracting agreement with a consortium for the Changle offshore centralized transmission project, with a total contract value of 4.165 billion yuan. The company stated that the signing and execution of this contract will help advance the overall construction of the project in an orderly manner. However, the announcement also cautioned that commencement of the project still requires approval from relevant authorities and remains subject to uncertainty.

The Royal Gazette has officially announced the regulations for the community solar farm procurement programme, with total capacity of no more than 1,500 megawatts, setting a fixed feed-in tariff of 2.1679 baht per unit and 25-year power purchase agreements. The scheme uses selection criteria focused on project quality and suitability rather than the previous system based on the order in which bids were submitted. The 1,500 MW community solar farm programme is separate from the 10,000 MW people's solar plan. Brokers view the news as positive for renewable power operators. Finansia Syrus Securities said the stocks to watch are GULF, BGRIM, GPSC, GUNKUL, WHAUP and SPCG, while Krungsri Securities sees WHAUP, GUNKUL and SSP as beneficiaries, and Yuanta Securities Thailand picked GUNKUL, SSP and TSE. Thai Solar Energy Public Company Limited, or TSE, plans to take part in both the community solar programme and direct power purchase agreements, or Direct PPA, targeting at least 100 megawatts of new offered generating capacity to serve demand for clean electricity from data centre operators and the industrial sector, and is studying the use of battery energy storage systems, or BESS, alongside its projects. TSE is also pressing ahead with its Solar Big Lot programme of 28 projects with total offered capacity of 229.06 megawatts, for which it has already signed 25-year power purchase agreements with the Provincial Electricity Authority. The first four projects, with combined capacity of 30.20 megawatts, are expected to start commercial operation in the second quarter of 2027, while the remaining 24 projects, with combined capacity of 198.86 megawatts, are expected to gradually reach commercial operation during 2028 to 2030. Once all 28 sites are running, the company expects to generate additional revenue of about 900 million to 1 billion baht per year. TSE also has a community waste-to-energy power plant project in the Khorum subdistrict of Uttaradit province, with offered capacity of 8 megawatts and a concession period of 28 years and 6 months. It is currently preparing an environmental impact assessment report and is set to sign a power purchase agreement. Key issues to watch going forward are the schedule for accepting proposals, the competition criteria and project allocation, which will be major factors shaping each operator's chances of expanding generating capacity.

Fervo Energy has reached First Power at its Cape Station project in Utah, with the site now delivering electricity into the grid. The milestone comes alongside fresh U.S. Department of Energy funding and the stock's addition to multiple Russell indices, though shares have fallen 48.6% over 90 days and 54.3% year to date even as they gained 2.2% in one day and 8.2% over 30 days. Fervo trades at $16.71 against an average analyst target of US$40.31, and the most followed narrative pegs fair value at $40.75, or 59% undervalued. That view rests on power purchase agreements totaling 658 megawatts and US$7.2b in contracted revenue, plus a 3 gigawatt framework agreement with Google, set against planned capex of about US$1.2b and ongoing operating losses. A separate check on its P/B ratio of 1.8x, slightly above the 1.6x peer average, suggests a narrower margin of safety.

Solaria Energia y Medio Ambiente reported record first-half 2026 results, with EBITDA of EUR210 million, a 50% increase year over year and 64% of its full-year target of EUR331 million. Net profit reached EUR122 million, up 52%, while energy production rose 51% and infrastructure business sales hit EUR100 million in six months. The company cut its leverage ratio to 3.9x from 5.4x, lifted fixed-rate debt to 84% of total debt, and completed more than EUR276 million of investment in the half. Production capacity reached 3.1 gigawatts, on track for 3.6 gigawatts by year-end, battery storage grew from 44 MWh to above 120 MWh, and Solaria signed power purchase agreements for more than 400 megawatts. Managing Director Dario Lopez Clemente reaffirmed EBITDA targets of EUR331 million for 2026, EUR456 million for 2027 and EUR521 million for 2028, and said the company will not reduce its roughly 35% merchant exposure given strong prices and its battery and trading capability.

Fervo Energy announced that its Cape Station geothermal development in Beaver County, Utah, has achieved First Power, the first time a utility-scale enhanced geothermal development has reached that milestone anywhere in the world. The first of three 33-megawatt GeoBlocks in Cape Station Phase I, an approximately 100 MW installation, is now synchronized to the grid and exporting electricity, and is expected to reach its contractual commercial operations date by October 1, 2026, with the remaining two GeoBlocks expected to reach contractual COD by January 1, 2027. The next phase, an additional 400 MW, is already under construction with an expected COD in 2028, and fully contracted offtake at Cape Station sits at approximately 900 MW, enough to power the equivalent of nearly 1 million U.S. homes annually. The milestone comes just over four months after Fervo's May 2026 initial public offering and follows the deployment of its EGS technology at Project Red, which has supplied electricity to the grid since 2023. CEO and Co-Founder Tim Latimer called the achievement a gamechanger for the geothermal industry, while Chief Technology Officer and Co-Founder Jack Norbeck said First Power is proof the science works.

Super Energy Corporation, or SUPER, is preparing to issue and offer a new series of bonds, its second issuance of 2026, in two tranches with a combined offering value of not more than 2 billion baht. The bonds will be offered to the general public between 6 and 8 October 2026, after the company received permission from the Securities and Exchange Commission, or SEC. Jomsap Lojaya, Chief Executive Officer of SUPER, said the bonds are unsubordinated, unsecured, and pay interest every three months throughout the life of the bonds. The first tranche has a maturity of one year and six months, due in 2028, with an interest rate of 5.55% per year, and the second tranche has a maturity of two years, due in 2028, with an interest rate of 5.90% per year. The company plans to use the proceeds to repay bonds maturing in the total amount of 1.44 billion baht, to support investment expansion of 60 to 100 million baht, and to repay loans from financial institutions of 460 to 500 million baht. For its operating results in the first six months of 2026, ending 30 June 2026, SUPER reported net profit of 859.73 million baht, an increase of 246.64% from the same period last year, while total revenue was 3.94 billion baht and its interest-bearing debt to equity ratio stood at 1.66 times. For this offering, the company has appointed Beyond Advisor Company Limited as financial advisor and bond distribution manager, together with nine other securities companies, with Asia Plus Securities Company Limited acting as the bondholders' representative.

Super Energy Corporation Public Company Limited, or SUPER, has received approval from the Securities and Exchange Commission to issue and offer its second bond series of 2026, comprising two tranches with a total offering value of not more than 2 billion baht. The bonds will be offered to the general public from October 6 to 8, 2026. Chief Executive Officer Jomsap Lojaya disclosed that both tranches are unsubordinated, unsecured bonds paying interest every three months. The first tranche has a maturity of one year and six months, carries an interest rate of 5.55% per year, and matures in 2028. The second tranche has a maturity of two years, carries an interest rate of 5.90% per year, and also matures in 2028. Proceeds from this bond issue will be used to repay 1.44 billion baht in bonds coming due, while approximately 60 to 100 million baht will support investment expansion and roughly 460 to 500 million baht will be used to repay loans from financial institutions. SUPER has appointed Beyond Advisors Company Limited as its financial advisor and bond distribution manager, with nine securities firms serving as co-distributors and Asia Plus Securities Company Limited acting as the bondholders' representative.

Super Energy Corporation Public Company Limited, or SUPER, is preparing to issue and offer a new set of debentures, its 2/2026 series, comprising 2 tranches with a total offering value of not more than 2 billion baht, to the general public between 6 and 8 October 2026, after receiving approval from the Securities and Exchange Commission. Both tranches are unsubordinated, unsecured debentures paying interest every 3 months throughout the life of the debentures. Tranche 1 has a maturity of 1 year and 6 months, maturing in 2028, with an interest rate of 5.55% per year, and Tranche 2 has a maturity of 2 years, maturing in 2028, with an interest rate of 5.90% per year. Chief Executive Officer Jomsap Lojaya said the company has never defaulted or delayed payments to debenture holders and has repaid both principal and interest in full and on schedule in every instalment. The company plans to use the proceeds to repay debentures due totalling 1.44 billion baht, to support investment expansion of 60 to 100 million baht, and to repay loans from financial institutions of 460 to 500 million baht. For its operating results in the first 6 months of 2026, ending 30 June 2026, SUPER posted a net profit of 859.73 million baht, up 246.64% from the same period last year, while total revenue was 3.94 billion baht and its interest-bearing debt-to-equity ratio stood at 1.66 times. For this offering, the company has appointed Beyond Advisor Company Limited as financial advisor and debenture selling manager, together with 9 other securities companies, with Asia Plus Securities Company Limited acting as debenture holders' representative.

Super Energy Corporation Public Company Limited, or SUPER, is preparing to issue and offer its 2/2026 series bonds in 2 tranches with a total offering value of not more than 2 billion baht to the general public, between 6 and 8 October 2026. The bonds are unsubordinated, unsecured, and pay interest every 3 months throughout the life of the bonds. Tranche 1 has a maturity of 1 year and 6 months, maturing in 2028, with an interest rate of 5.55% per year, and Tranche 2 has a maturity of 2 years, maturing in 2028, with an interest rate of 5.90% per year. Chief Executive Officer Jomsap Lojaya said the funds raised will be used to repay bonds maturing totaling 1.44 billion baht, to support investment expansion of approximately 60 to 100 million baht, and/or to repay loans from financial institutions of approximately 460 to 500 million baht. For its operating results in the first 6 months of 2026, ending 30 June 2026, SUPER reported a net profit of 859.73 million baht, an increase of 246.64% from the same period last year, while total revenue was 3.94 billion baht and its interest-bearing debt-to-equity ratio stood at 1.66 times. The company has appointed Beyond Advisors Company Limited as financial advisor, with several securities companies serving as joint underwriters of the bonds, including Asia Plus Securities Company Limited, which also acts as the bondholders' representative.

Super Energy Corporation, or SUPER, is preparing to issue and offer a new set of bonds, its second offering of 2026, in 2 tranches with a total offering value of not more than 2 billion baht to the general public between 6 and 8 October 2026, after receiving permission from the Securities and Exchange Commission. Both tranches are unsubordinated, unsecured bonds with interest paid every 3 months throughout the life of the bonds. The first tranche has a maturity of 1 year and 6 months, due for redemption in 2028, with an interest rate of 5.55% per year, and the second tranche has a maturity of 2 years, due for redemption in 2028, with an interest rate of 5.90% per year. Jomsap Lojaya, Chief Executive Officer, said this offering gives retail investors easier access to investment in SUPER bonds. The company plans to use the proceeds to repay bonds maturing totaling 1.44 billion baht, to support investment expansion of 60 to 100 million baht, and or to repay loans from financial institutions of 460 to 500 million baht. For operating results in the first 6 months of 2026, ending 30 June 2026, SUPER had a net profit of 859.73 million baht, an increase of 246.64% from the same period last year, while total revenue was 3.94 billion baht and the interest-bearing debt to equity ratio stood at 1.66 times. The company has appointed Beyond Advisor Company Limited as financial advisor and bond distribution manager, together with 9 other securities companies, with Asia Plus Securities Company Limited acting as the bondholders' representative.

Earth Tech Environment Public Company Limited, or ETC, has scheduled an extraordinary general meeting of shareholders for October 6, 2026, to seek approval to acquire shares of Better Waste Care Company Limited, or BWC, from its parent company, Better World Green Public Company Limited, or BWG, at a ratio of 99.96% at 110.04 baht per share, for a total value of 330 million baht. The transaction is a connected transaction. The rationale for the purchase stems from ETC having sold its investments in Get Green Power Company Limited, or GGP, and Suntech Innovation Power Company Limited, or SIP, to Gulf West Two Energy Holdings Company Limited, or GWTE, a subsidiary of Gulf Development Public Company Limited, or GULF, for 850 million baht. As a result, ETC currently holds cash and cash equivalents of 1.01127 billion baht, of which 600 million baht has been placed in bank deposits and savings lottery tickets, while the remaining approximately 411.27 million baht has not yet been invested. After selling GGP and SIP, which are developers of 10 industrial waste power plant projects with a combined generating capacity of 80 megawatts, ETC has only three industrial waste power plants remaining under power purchase agreements with the Provincial Electricity Authority, or PEA. One project's contract will expire in 2037 and the other two will expire in 2039. Meanwhile, the independent financial advisor views the transaction as reasonable and its overall terms as appropriate, but notes that the acquisition price is significantly higher than the fair value. Using the discounted cash flow method, the valuation came to 252.87 to 295.38 million baht, or 84.29 to 98.46 baht per share, representing a premium of 11.77% to 30.56% above the assessed value. The advisor therefore believes shareholders should not approve the transaction. The company's board, however, insists the deal is necessary and beneficial to the company and shareholders in the long term.

Absolute Clean Energy Public Company Limited, or ACE, is conducting an in-depth study of the criteria for the 2026 community solar farm project in preparation for participating in the auction. Thanachai Bunditvorapoom, Chief Executive Officer, told Than Hoon that the company is fully ready to join the auction if it finds the investment worthwhile and aligned with its vision. In the past, the company has won auctions for similar solar farm projects, and he confirmed that this project is not yet included in the project plan figures previously provided during the Stock Exchange's Earnings Call, since figures can only be announced once the company has won the auction and received an official contract. Meanwhile, the Energy Regulatory Commission's regulations designate the Metropolitan Electricity Authority and the Provincial Electricity Authority as the power purchasers at a feed-in tariff rate of 2.1679 baht per unit, in line with the National Energy Policy Council's resolution at its 2/2026 meeting (the 176th) on 15 July 2026. As of the end of the second quarter of 2026, ACE had a total of 39 solar projects, with total installed capacity of 243.37 megawatts and total power purchase agreement capacity of 129.41 megawatts, divided into 31 projects already in operation with total installed capacity of 202.19 megawatts and total power purchase agreement capacity of 108.45 megawatts, and 9 projects in the pipeline with total installed capacity of 41.18 megawatts and total power purchase agreement capacity of 20.96 megawatts. Its community waste-to-energy power plant projects total 11, divided into 2 already in commercial operation, 2 under construction, and 7 awaiting power purchase agreements and development steps. The company expects revenue between 2026 and 2029 to grow steadily and continuously, driven by the base revenue from the 47 existing power plant projects already in operation, the gradual recognition of revenue from new projects, and opportunities from new renewable energy projects in the future.

Thai Solar Energy Public Company Limited, or TSE, has laid out a strategy to capture Thailand's energy transition, preparing to bid for Direct PPA and Solar Community projects under the new Power Development Plan, or PDP2026, which calls for clean energy to account for more than 60% of the mix. The company aims to add at least 100 megawatts of offered generating capacity to serve demand for clean electricity from data centers and the industrial sector. Kathleen Maleenont, Chief Executive Officer of TSE, said Direct PPA will be a key mechanism for meeting that demand, and the company is studying the use of battery energy storage systems, or BESS, alongside its projects. Meanwhile, TSE is pressing ahead with 28 Solar Big Lot projects with a combined offered generating capacity of 229.06 megawatts, for which it has already signed 25-year power purchase agreements with the Provincial Electricity Authority. The first four projects, with a combined capacity of 30.20 megawatts, are expected to begin commercial operation in the second quarter of 2027, while the remaining 24 projects, with a combined capacity of 198.86 megawatts, will gradually come online between 2028 and 2030. Once all 28 projects are complete, they are expected to generate an additional 900 million to 1 billion baht in annual revenue. In addition, a community waste-to-energy plant with an offered generating capacity of 8 megawatts, which has secured a 28-year and 6-month concession with the Khorum subdistrict in Uttaradit province, is in the process of preparing an environmental impact assessment report and awaiting the signing of a power purchase agreement. The company is also expanding into the Health & Wellness sector to create a new S-Curve and diversify its revenue sources.

Dr. Cathleen Maleenont, Chief Executive Officer of Thai Solar Energy Public Company Limited, or TSE, disclosed that the company is preparing to support Thailand's energy transition, after the government moved forward with drafting a new Power Development Plan, or PDP2026, which aims to expand the role of clean energy alongside the opening of a direct clean power trading market, known as Direct PPA, particularly to serve data center operators. The Ministry of Energy said the goal of PDP2026 is to increase the share of clean energy over the long term, while promoting Direct PPA and restructuring the power system, although the plan's details are still being drafted and subject to public consultation. TSE is studying and preparing to take part in projects under government policy in both Direct PPA and Solar Community, targeting at least 100 megawatts of additional power generation capacity for sale, and is studying the use of battery energy storage systems alongside its power generation projects to improve system stability. At the same time, the company is pressing ahead with 28 Solar Big Lot projects with a combined offered capacity of 229.06 megawatts, after signing 25-year power purchase agreements with the Provincial Electricity Authority. The first four projects, with a combined offered capacity of 30.20 megawatts, are expected to begin commercial operation in the second quarter of 2027, while the remaining 24 projects, with a combined capacity of 198.86 megawatts, will gradually supply power to the grid during 2028 to 2030. Once completed as planned, they are expected to generate additional revenue of about 900 million to 1 billion baht per year. In addition, TSE is proceeding with a community waste-to-energy power plant project with an offered capacity of 8 megawatts, which has received a 28-year and 6-month concession from the Kor Rum subdistrict in Uttaradit province, and is expanding its investment into the health and wellness business to create new revenue streams.

Thai Solar Energy Public Company Limited, or TSE, is preparing to take part in clean energy projects under the new Power Development Plan, or PDP2026, which aims to raise the share of clean energy to more than 60%. Dr. Cathleen Maleenont, Chief Executive Officer, disclosed that the company targets adding at least 100 megawatts of total offered generating capacity through participation in Direct PPA and Solar Community projects under government policy, in order to serve demand for clean electricity, particularly from data centers and the industrial sector, and that it has studied the use of battery energy storage systems, or BESS, alongside these projects. At the same time, TSE is pressing ahead with 28 Solar Big Lot projects with total offered generating capacity of 229.06 megawatts, for which it has already signed 25-year power purchase agreements with the Provincial Electricity Authority. The first four projects, with total generating capacity of 30.20 megawatts, are expected to be ready for commercial operation in the second quarter of 2027, while the remaining 24 projects, with total generating capacity of 198.86 megawatts, will gradually reach commercial operation during 2028 to 2030. Once electricity is supplied in full according to plan, they are expected to generate additional revenue of more than 900 to 1,000 million baht per year. In addition, a community waste-to-energy power plant project with offered generating capacity of 8 megawatts, which has been granted a 28-year and 6-month concession with the Kor Rum subdistrict in Uttaradit province, is in the process of preparing an environmental impact assessment report and awaiting the signing of a power purchase agreement soon. Meanwhile, the company is also expanding into the Health & Wellness business to create a new S-Curve and increase the diversity of its revenue sources over the long term.

BBGI Public Company Limited, or BBGI, informed the Stock Exchange of Thailand that its board of directors approved an interim dividend payment of 0.20 baht per share, paid from unappropriated retained earnings that are exempt from corporate income tax. The ex-dividend date, or XD date, is set for October 6, 2026, with payment scheduled for October 15, 2026. Meanwhile, Srisawad Corporation Public Company Limited, or SAWAD, announced that its board of directors approved an interim dividend payment from operating results for the period from January 1 to June 30, 2026, at a rate of 0.35 baht per share. The ex-dividend date, or XD date, is set for October 6, 2026, with payment scheduled for October 21, 2026.

TSE has laid out its strategy for the PDP2026 plan, a project to transform Thailand's energy structure, aiming to raise the share of clean energy above 60% and preparing to take part in Direct PPA and Solar Community tenders, with a target of adding at least 100 MW of capacity offered for sale to meet demand for clean electricity from data centers and the industrial sector. At the same time, the company is pressing ahead with construction of Solar Big Lot projects with total offered capacity of 229.06 MW, part of its expanded portfolio, with power scheduled to be supplied gradually from 2027 to 2030, and once all projects are fully supplying power, they are expected to generate additional annual revenue of more than 900 to 1,000 million baht. Meanwhile, the SAWAD board approved an interim cash dividend of 0.35 baht per share based on operating results for the period from January 1 to June 30, 2026, with a par value of 1.00 baht per share. The ex-dividend date is set for October 6, 2026, the record date for shareholders entitled to receive the dividend is October 7, 2026, and the dividend payment date is October 21, 2026. As for MPJ, it has launched a heavy cargo container deposit service, drawing on the potential of existing space to create added value, along with investment in specialized tools and equipment. The company is confident this new service will be another driver of operating results in the second half of 2026, supporting continuous growth and its 2026 revenue target of 1,264 million baht, or 18% growth, in line with plan.

Thai Solar Energy Public Company Limited, or TSE, has announced a strategy to support Thailand's energy transition, after the government prepares to draft the PDP2026 plan aimed at raising the share of clean energy to more than 60%. Dr. Cathleen Maleenont, Chief Executive Officer, said the company is ready to join bids for Direct PPA and Solar Community projects, targeting an increase in offered generating capacity of no less than 100 megawatts to meet demand for clean electricity from data centers and the industrial sector, while also studying the use of battery energy storage systems, or BESS, alongside its projects. At the same time, TSE is continuing to develop 28 Solar Big Lot projects with total offered generating capacity of 229.06 megawatts, for which it has already signed 25-year power purchase agreements with the Provincial Electricity Authority. The first four projects, with combined capacity of 30.20 megawatts, are expected to begin commercial operation in the second quarter of 2027, while the remaining 24 projects, with combined capacity of 198.86 megawatts, will gradually supply power during 2028 to 2030. Once all 28 projects are complete, they are expected to generate additional revenue of more than 900 million to 1 billion baht per year. In addition, a community waste-to-energy power plant with offered generating capacity of 8 megawatts, which has received a 28-year and 6-month concession in Khorrum subdistrict, Uttaradit province, is in the process of preparing an environmental impact assessment report and awaiting the signing of a power purchase agreement. The company is also expanding into the Health & Wellness business to create a new S-Curve and increase the diversity of its revenue sources over the long term.

Strengthen Power Corporation Public Company Limited, or SSP, has announced a goal to double its asset size within the next 3-4 years. Chayut Leehajaroenkul, Chief Financial and Accounting Officer, disclosed on the Thanhoon Thangame program that the company has a portfolio of power plants in commercial operation and under development with total capacity in hand of more than 340 megawatts, and projects in hand totaling 800 megawatts. The company sees the draft Power Development Plan of Thailand, or PDP 2026, which sets a target of approximately 50,000 megawatts of generating capacity, as a major opportunity, as the new capacity in the draft plan is more than 100 times larger than the company's existing investment portfolio. If the conditions become clear and official, SSP is ready to consider raising its long-term total capacity target from 1,000 megawatts by 2033. On overseas investment, the company is in the process of investing in a 150-megawatt offshore wind power project in the Philippines, and is advancing a capital recycling model by selling the Yamaga power plant in Japan, which was invested at 500 million baht, returning 1 billion baht in cash. It will recognize an extraordinary profit and cash flow in the third quarter of 2026, helping to reduce the IBD/E ratio to approximately 2 times and opening room to safely move up to 3 times.

BBGI Public Company Limited, or BBGI, announced through the Stock Exchange of Thailand that its board of directors, at a meeting on September 22, 2026, approved the payment of a cash dividend to common shareholders at 0.20 baht per share, paid from retained earnings and from net profit derived from investment promotion, or BOI, privileges at 0.20 baht per share. The company has set the ex-dividend, or XD, date for October 6, 2026, and the record date to determine the list of shareholders entitled to receive the dividend for October 7, 2026, with the dividend to be paid on October 15, 2026. BBGI shares have a par value of 2.50 baht per share.

Thachang Green Energy Public Company Limited, or TGE, has announced it is advancing a proactive ESG plan spanning carbon reduction, renewable energy use, workforce development, and supplier upgrading, in a bid to turn sustainability into a mechanism for boosting efficiency and reducing business risk. Laongthip Wanasuwankul, an executive director of TGE, said the company began preparing a sustainability report and set out ESG strategy and material topics, applying international framework standards so that results can be measured and disclosed transparently. On the environmental front, TGE received corporate carbon footprint, or CFO, certification for the fourth year in 2026 and has been a member of RE100 since 2022, aiming for 100% renewable energy in its business operations. On the social side, the company runs the TGE Innovation Day program, giving employees a space to propose ideas, and has expanded its human rights assessment to cover employees, suppliers, contractors, and communities. Meanwhile, its Supplier ESG Site Visit program has already inspected more than 80% of its biomass suppliers and strategic suppliers, in order to raise ESG standards across the entire business chain, in line with a global trend that the World Economic Forum says saw worldwide energy investment reach 3.3 trillion dollars in 2025, with renewable and nuclear power together generating 42% of the world's electricity.

Today's stocks to watch span several key developments. Bangchak, or BCP, is changing its top leadership for the first time in 12 years, after the board unanimously resolved to appoint Bundit Hansapaiboon as the new CEO, succeeding Chaiwat Kovavisarach, whose term has ended, effective January 1, 2027, after more than a decade at the helm. The stock fell nearly 3% on concerns over the leadership change. Meanwhile, BCPG clarified the case in which the Department of Special Investigation requested information on its investment in the Phetchaburi oil depot and jetty project, confirming it is ready to cooperate fully and that there has been no conclusion or ruling from the relevant agencies. Central announced a new investment plan in Vietnam totaling 3.5 billion US dollars, covering retail, real estate, and hotels, split into 1.5 billion dollars for CRC to expand roughly 50 stores over three to five years, and another 2 billion dollars for CPN, after seeing substantial room for economic and purchasing-power growth. EGCO is pushing into the United States, acquiring a large 615-megawatt natural gas power plant in central New York under a tolling agreement that locks in long-term cash flow and captures electricity demand from AI and data centers. SPALI declared that Thai real estate has passed its bottom, and it will launch 19 new projects worth a combined 22.66 billion baht in the second half, with brokers saying profits have reached a turning point, raising this year's profit forecast by 10%, highlighting a 7.7% dividend yield, and setting a buy rating with a 21 baht target price.