Electric Power Stock Market: Analysis of 8 Rapidly Growing Energy Stocks This Year

Energy Market Context: Why Electric Utilities Attract Investors

In the current economic climate, electric utility stocks are considered stable assets that offer consistent returns. This is because electricity is essential in consumers’ daily lives and industrial activities, resulting in relatively predictable revenue streams for power generation companies.

The movement of these stock prices is often linked to three main factors: the country’s power generation capacity, government energy policies, and long-term electricity demand trends. Each company’s expansion strategies, such as seeking joint ventures, increasing capacity, or expanding into international markets, also influence stock valuation.

Many investors view electric utility stocks as “defensive stocks,” suitable for those seeking low-risk portfolios with steady income streams.

Classification of Power Generation Companies: Understanding Levels and Business Models

Electricity generation can be divided into three groups based on capacity and management:

Large Private Power Plants (IPP): Capacity exceeding 90 MW, typically managing large and complex projects.

Medium Private Power Plants (SPP): Capacity between 10-90 MW, often renewable energy projects.

Small Private Power Plants (VSPP): Capacity below 10 MW, quick to install and flexible.

Renewable Energy and Industry Structural Changes

The energy world is evolving, focusing on reducing fossil fuel use and shifting toward clean energy. The main categories of electric utility stocks include:

Solar Power: Companies that build and operate solar power plants, representing environmentally friendly renewable energy with promising future profits.

Hydropower: Electricity generated from flowing water, often found in areas with sufficient natural potential.

Natural Gas: A cleaner energy source with high efficiency for power generation.

Wind, Biomass, and Other Sources: Diverse renewable options to reduce reliance on traditional fuels.

Analysis of 8 Energy Stocks: Performance and Trends

Latest Financial Performance Table

Banpu Power (BANPU@: An Asia-Pacific energy producer

Banpu Power is one of the leading international power producers, operating under the slogan “Powering Society with Quality Megawatts.” Currently, the company manages 41 power plants/projects across eight countries: Thailand, Laos, China, Japan, Vietnam, Indonesia, Australia, and the United States.

In the first half of the year, BANPU recorded total revenue of 90,673.73 million Baht and net profit of 2,488.71 million Baht. The stock trades at 111.50 Baht, with a price change of -5.88% this year, reflecting market adjustments to energy policy changes.

BANPU’s current capacity is 3,656 MW, with renewable energy accounting for 11.20% of its total portfolio.

) Gulf Energy ###GULF@: A pioneer in integrated energy business

Gulf Energy Development excels in power generation, gas transportation, and renewable energy investments. The company aims to set an example in sustainability. In the latest year, Gulf participated in over 100 social projects.

In the first half of the year, Gulf reported total revenue of 64,896.44 million Baht and net profit of 8,239.79 million Baht. GULF’s stock at 66.50 Baht surged by 54.49%, making it the top performer in the group.

Recently, GULF announced plans to invest in renewable energy, aligning with the new (PDP) development plan and a 5-year investment plan of 90,000 million Baht. The company plans to establish a NewCo and acquire securities in projects of ADVANCE and THCOM.

( Global Power Synergy )GPSC@: Innovation and sustainability to international standards

GPSC positions itself as a global leader in innovation and sustainability, supporting its 4S strategic plan to produce and distribute electricity, steam, industrial water, and utilities to enhance efficiency and stability.

In the first 6 months, GPSC recorded total revenue of 48,426.98 million Baht and net profit of 2,292.55 million Baht. Its stock price at 46.25 Baht has decreased by 3.09% since the start of the year.

Recently, GPSC secured a long-term loan of 7,000 million Baht from three financial institutions, including both government and private banks. This enhances the company’s capacity to advance clean energy projects, support Net Zero goals, and promote national energy development plans.

B.Grimm Power (BGRIM): Expansion into renewable energy

B.Grimm Power focuses on thermal and renewable power generation. The company aims to provide high-quality energy solutions and expand into healthcare, lifestyle, real estate, and digital technology sectors.

In the first half, BGRIM reported total revenue of 28,344.78 million Baht and net profit of 607.17 million Baht. Its stock at 23.40 Baht has decreased by 12.66% since the beginning of the year.

The company recently signed a solar power purchase agreement with a government agency, significantly supporting its leadership in industrial power generation.

( Absolute Energy )EA###: Pioneer in electric vehicle transformation

Energy Absolute (EA) follows the “Energy for The Future” policy, leveraging innovation and technology to develop clean energy, renewable energy, batteries, and electric vehicles. Its products include commercial EVs, electric boats, charging stations, and high-level Li-ion batteries.

Latest results show EA’s total revenue at 10,368.81 million Baht and net profit at 1,430.44 million Baht. However, its stock price at 7.80 Baht has fallen sharply by 81.36%, due to market adjustments.

This year, EA continues to develop Thai-designed electric pickup trucks aimed at entrepreneurs and environmentally friendly transportation.

Srein Srong Power (SSP): Rapid growth in renewable energy

Srein Srong Power Corporation is a rapidly growing energy company, focusing on renewable and alternative energy leadership. Its main projects include SOLAR FARM, SOLAR ROOFTOP, and various renewable power developments.

In the first half, SSP recorded total revenue of 1,709.90 million Baht and net profit of 326.89 million Baht. Its stock at 5.90 Baht has decreased by 25.62% amid market pressures.

In 2024, SSP aims to expand assets continuously, focusing on regional markets across Asia. The company currently holds an “BBB+” corporate credit rating, reflecting strong financial stability and long-term growth potential.

( CK Power )CKP###: Diversified business from a construction base

CK Power has grown from a major construction contractor, now investing across various sectors. Its notable energy projects include hydro, cogeneration, and solar power, managed through six subsidiaries and joint ventures.

In the first 6 months, CKP reported total revenue of 5,111.09 million Baht but incurred a net loss of 387.05 million Baht. Its stock at 3.70 Baht has increased by 19.02%, showing a notable recovery.

( Gunkul Engineering )GUNKUL###: From small capital to business empire

Gunkul is an energy company that started with a registered capital of only 1 million Baht. Its evolution into a business empire valued at over 30 billion Baht is driven by power generation and sales of renewable energy to both government and private sectors, along with an innovative Peer-to-Peer Energy Trading Platform.

In the first 6 months, GUNKUL recorded total revenue of 5,002.69 million Baht and net profit of 761.43 million Baht. Its stock at 2.80 Baht has increased by 2.86%, aligned with market conditions.

Looking ahead, the company plans to expand the role of its digital platform Volt (Platform), pushing B2C services, developing a marketplace, and continuing to develop 9-10 energy products.