CKP Advances Luang Prabang Dam, Targets 95% Renewable Energy by 2043

Apollo Global Management has moved further into energy and industrial assets, with its backed Eagle Creek Renewable Energy partnering with Relevate Power to grow small hydropower assets, and with Apollo completing its acquisition of Nippon Sheet Glass. The Eagle Creek and Relevate Power agreement covers both expansion and day-to-day management of distributed hydro facilities, while the Nippon Sheet Glass deal starts a new management setup and growth phase for the glass producer. Apollo Global Management, a US-based diversified financial group with a market value of about $68.5b, channels capital into credit, private equity, infrastructure and real assets. The firm is also rumored to be reshaping assets including Energos Infrastructure and rolling out Daily Pricing across US$850b of credit. Analysts continue to flag thinner recent profit margins and an uneven dividend record even as the deals support expectations of higher origination volumes.

GPSC appears to be entering a period of earnings recovery, posting a net profit of 1.82 billion baht in the second quarter of 2026, up 6% QoQ but down 10% YoY. The main drivers were GHECO-One returning to operation after a planned outage, improved availability at Glow IPP, higher power sales volumes at HHPC, and a recovery in demand from industrial customers. SPP margins, however, remained under pressure as gas costs rose faster than the Ft tariff. First-half 2026 results overall reflected better operating efficiency, with EBITDA margin rising to 25% and net profit up 12% YoY to 3.54 billion baht. The second half of 2026 is expected to continue growing on the high season for hydropower plants in Laos and the peak season for the CFXD wind power plant in Taiwan in the fourth quarter of 2026. The EBITDA Uplift Program has already delivered 571 million baht of benefits in the first half of 2026 and targets around 1 billion baht for the full year 2026. The company aims to expand equity capacity from 7.4 GW to 13.7 GW by 2030, while raising the share of renewables and reducing SPP volatility by increasing gas-linked contracts to more than 70%. It targets winning more than 25% of the capacity up for auction under PDP2026, covering renewable, ESS and conventional power, alongside opportunities from direct PPAs, under which it aims to supply around 2 GW of renewable power to corporate customers by 2030. It currently has demand from data centers under discussion and study amounting to as much as 750 MW, and is studying sites with four partners totalling more than 1,000 MW.