CK Power
CK Power (SET: CKP) is the power-generation arm of Ch. Karnchang Group. Core asset: Xayaburi Hydropower (Laos, 1,285 MW on Mekong mainstream, long-term PPA to Thailand via EGAT) — CK Power holds majority stake alongside international co-investors. Supplementary portfolio: domestic solar, small hydro, selected renewables. Parent Ch. Karnchang Group controls ~27%.
Snapshot
Headline numbers a buyer checks first.
FY2024 revenue
~THB 6-8B
FY2024
Xayaburi capacity
1,285 MW (Laos, Mekong)
Operating
Ticker
SET: CKP
Listed 2013
PPA
Long-term USD-linked to EGAT
29-year concession
What this company actually does
CK Power operates Xayaburi Hydropower (1,285 MW run-of-river on Mekong mainstream in Laos, operational 2019) under ~29-year concession with Lao government. Electricity sold to EGAT under long-term PPA making CKP's revenue stable, USD/THB-linked. Supplementary assets: Nam Ngum 2 hydropower (Laos) plus domestic solar, small hydro, biomass.[]
Strategic position: CK Power is Thai listed hydropower, renewable specialty. Xayaburi cash flow is the anchor — stable 29-year PPA, low operating variability, USD-linked revenue. Domestic solar, small hydro adds growth optionality. Parent Ch. Karnchang Group's construction arm (SET: CK) provides future hydropower development pipeline optionality.[]
Watchpoints
Xayaburi operational stability
Mekong flow variability, concession terms.
Future hydropower pipeline
Luang Prabang, Pak Beng, Lao dams potential.
Domestic solar, small hydro
Renewable expansion, PPA wins.
Ch. Karnchang Group alignment
Parent construction arm cross-platform support.
Portfolio and revenue structure
Anchor
Xayaburi 1,285 MW — stable PPA cashflow
Xayaburi Hydropower Plant on the Mekong mainstream in Laos contributes the bulk of CKP's revenue. The 29-year PPA with EGAT is USD-linked, providing stable, currency-hedged cash flow with low operational variability.
Secondary
Nam Ngum 2 — secondary Lao hydro asset
Nam Ngum 2 (615 MW) is CKP's second Lao hydropower investment. It is also PPA-structured, with a smaller contribution than Xayaburi but similar revenue-stability profile.
Growth
Domestic solar, small hydro, biomass
Thai domestic renewable assets — solar, small hydro, biomass — are growing but remain a minor share of total capacity and revenue. VSPP/SPP PPA wins, land availability, and permitting drive expansion pace.
Pipeline
Future Mekong dam optionality
Ch. Karnchang Group's construction arm (SET: CK) provides CKP with development optionality on future Lao Mekong dam projects including Luang Prabang and Pak Beng. Political, environmental, and financing timelines are long.
Thai listed IPP renewable-heavy peers
CK Power (CKP)
Installed capacity
~1,900 MW (Xayaburi, NN2, domestic)
Primary technology
Hydropower (Laos), solar, small hydro
Group parent
Ch. Karnchang Group
Installed capacity
~10,000+ MW (contracted)
Primary technology
Gas cogen, LNG, wind, solar
Group parent
Sarath Ratanavadi family
Installed capacity
~6,000+ MW (global)
Primary technology
Thermal, hydro, wind, solar
Group parent
EGAT-affiliated
GPSC (Global Power Synergy)
| Entity | Installed capacity | Primary technology | Group parent |
|---|---|---|---|
| CK Power (CKP) | ~1,900 MW (Xayaburi, NN2, domestic) | Hydropower (Laos), solar, small hydro | Ch. Karnchang Group |
| Gulf Energy Development | ~10,000+ MW (contracted) | Gas cogen, LNG, wind, solar | Sarath Ratanavadi family |
| RATCH Group | ~6,000+ MW (global) | Thermal, hydro, wind, solar | EGAT-affiliated |
| GPSC (Global Power Synergy) | ~5,000+ MW | Cogen, solar, battery storage | PTT Group |
Related Market profiles
Peers, parents, partners, agencies, and other Power & Utilities actors.
Parent
CH. Karnchang
Ch. Karnchang Group parent; ~27% ownership, construction partner.
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Competitor
Gulf Energy Development
Listed IPP peer at larger scale.
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Competitor
Ratch Group
Listed IPP peer with international portfolio.
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Sector peer
Banpu Power
Banpu Group power arm; Thailand, China, Japan, Vietnam, Australia, US thermal, renewables portfolio.
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Sources + data provenance
Every filing, filing-adjacent register, or trusted industry source cited in this profile.
Reports featuring this profile
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SET-listed; hydro, water tier.
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CK Power's Ch. Karnchang Group parent builds Xayaburi.
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Hydropower, cogen, renewable IPP/SPP.
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CK Power renewable, biomass component.
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Sits alongside 6 other Atlas profilesRelated Market profiles
parent
CH. Karnchang
Largest-ROE Thai civil contractor; MRT Orange Line west, Xayaburi hydropower, dam-project pipeline; FY2024 revenue ~THB 35B.
competitor
Gulf Energy Development
Thailand's largest listed IPP — THB 110B+ FY2024; gas, renewables, data centres, AIS/Intouch via SingTel JV.
competitor
Ratch Group
Ex-EGAT listed IPP — FY2024 ~THB 42B; legacy thermal, Australia, Indonesia, Vietnam with renewables pivot underway.