Bangkok: The board of Banpu Public Company Limited (BANPU) has approved a significant merger with Banpu Power Public Company Limited (BPP), leading to the creation of a new public limited company. The shareholders’ meeting to finalize this merger is scheduled for January 29, 2026, and the resulting entity will operate under the name BANPU when trading on the Stock Exchange.

According to Thai News Agency, Mr. Sinin Vongkusolkit, the Chief Executive Officer of BANPU, emphasized that this strategic restructuring aligns with the company’s Energy Symphonics strategy, aiming to accelerate growth. The merger is intended to boost operational agility and support the company’s 2030 objectives, focusing on sustainable growth and increased earnings from non-coal businesses.

The merger process will involve the formation of a ‘New Company’ with shares allocated to existing shareholders of BANPU and BPP. An independent financial advisor has been appointed to assess the transaction, and the new entity is expected to be listed on the Stock Exchange of Thailand by the third quarter of 2026.

The merger will strategically consolidate BPP’s assets, including its stake in the US natural gas power plant business under BKV Corporation. BPP plans to sell a 25% stake in the BKV-BPP Power LLC joint venture to BKV for approximately US$230.5 million, with the transaction expected to close in early 2026. This move aims to create growth opportunities in the natural gas power sector.

Banpu’s long-term strategy focuses on environmental sustainability, with goals to increase EBITDA by 1.5 times by 2030, reduce coal-related revenue, and significantly cut greenhouse gas emissions. The company is committed to achieving Net Zero by 2050.