Message from Chairman

National Power Supply Public Company Limited, or “NPS,” aims to be a leader in clean energy and has created the foundation for a sustainable future since its established. The Company uses biomass as fuel for electricity generation and have continuously developed our business to drive towards a low-carbon solution, protect the environment, and create a good quality of life that everyone can sustainably share.

In 2025, the floating solar power plant project commenced commercial operation (COD) with a total capacity of 111 megawatts and subsequently expand to 157 megawatts as planned by Q1, 2026. This positions NPS as a hybrid clean energy power plant combining biomass and solar energy (SOLAR BIOMASS HYBRID) capable of generating electricity 24/7. Additionally, NPS has advanced its Green Logistics business by replacing 215 diesel and NGV trucks with electric trucks for biomass fuel transportation to our power plants. This initiative, launched in November 2024, has reduced fuel transportation costs and decreased the carbon footprint, as the electric trucks primarily use electricity from the Floating Solar Farm project. This effort aims to achieve carbon neutrality by 2050 and net zero emissions by 2065.

In 2025, driven by efficient operations, NPS recorded total revenue of Baht 16,504.50 million, EBITDA of Baht 4,233.94 million, and a net profit of Baht 1,008.41 million. NPS also received a credit rating of BBB+ (Stable) from TRIS Rating, reflecting strong and stable financial position, consistent performance, and reliable returns for investors and stakeholders.

In terms of good corporate governance, NPS has a board of directors with expertise in various fields to provide recommendations, oversight, and take responsibility for activities within the scope assigned by the company’s board. The company has also established audit, risk management, and governance committees to ensure that NPS and its group companies can achieve their development goals and conduct sustainable business in all dimensions: economic, environmental, social, and governance. This is similarly to create value and good returns for all stakeholders.

On behalf of the board of directors, executives, and all employees, I would like to express our gratitude to our shareholders, bondholders, and stakeholders for their trust and confidence in NPS. We look forward to continuing to earn your support and trust in the future.