Company Profile & History
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“The Asian Face of Energy.”

Over three decades of consistent growth and development, Banpu Public Company Limited has grown into one of the energy leaders in the Asia-Pacific region with wide spread experiences in the domestic and international coal industry as well as coal-fired power generation. Banpu’s commitment centers on constant development of production and management competencies, harnessing our professional skills and Asian values to lead the Company into the global energy industry as “The Asian Face of Energy”.

Banpu pursues businesses in coal mining, power generation and alternative energy, through its investments in Thailand, Indonesia, China, Australia, Lao PDR, Mongolia, Singapore , Japan, and USA.

MILESTONES



1983

  • The Company was founded with the name ‘Ban Pu Coal Company Limited’ by the Vongkusolkit family and the Auapinyakul family, with a registered capital of THB 25 million

1989

  • Banpu Coal Company Limited listed on the Stock Exchange of Thailand

1990

  • Mineral Resources Development Company Limited was established to operate a kaolin mine in Ranong Province

1991

  • Banpu International Company Limited was established in Indonesia to explore and develop coal resources on Sumatra Island, Indonesia
  • Chiang Muan Mine Company Limited was founded as result of a joint venture between Banpu and Ban-Sa Mining Company Limited to develop a coal mine in Phayao Province

1992

  • An agreement was signed with Electricity Generating Authority of Thailand (EGAT) to excavate more than 400 million cubic meters of overburden and coal at the Mae Moh mine in Lampang Province over a 10-year period

1993

  • Thai-Cogeneration Company Limited was established as a joint venture between Banpu and Nordic Power Invest AB to produce steam and clarified water
  • Banpu and Nordic Power Invest AB then established The Cogeneration Company Limited (COCO) under EGAT’s Small Power Producer (SPP) Scheme, to provide electrical power, steam, clarified water and demineralized water to the Map Ta Phut Industrial Estate in Rayong Province - one of Thailand's most important industrial areas
  • The Company converted to a limited public company under the new name of ‘Banpu Public Company Limited’, with an increased registered capital of THB1,000 million

1995

  • Tri Energy Company Limited (TECO) was formed as a joint venture among Banpu, Texaco Inc. and Black & Veatch, to bid for a power plant under EGAT’s Independent Power Producer (IPP) Scheme
  • The Company formed BLCP Power Limited as a joint venture with PowerGen Public Company Limited and CRA Energy Limited, to bid for the right to operate a power plant under EGAT’s Independent Power Producer (IPP) Scheme
  • Yenbai Banpu YBB Company Limited (YBB) was established as a joint venture between Banpu and Yen Bai Mineral Company Limited, a Vietnamese government-owned company, to operate a YBB mine located in Yen Bai Province, S.R. of Vietnam

1996

  • An agreement with the Port Authority of Thailand was signed to lease and operate the A-5 area in Laem Chabang Port
  • MRD-ECC Company Limited was co-founded by the Company and ECC Overseas Development Company Limited, a leading ball clay producer in England, to produce ball clays from large reserves at Maetan area in Lampang Province of northern Thailand
  • TECO was selected by EGAT to build, own and operate a 700 MW gas turbine combined cycle power plant under the IPP Scheme
  • The Company invested in PT. Jorong Barutama Greston by purchasing 95% of its registered capital

1997

  • TECO signed a Power Purchase Agreement (PPA) with EGAT, and began construction of its power plant
  • BLCP was selected by EGAT to build, own and operate a 1,400 MW coal-fired power plant under EGAT’s Independent Power Producer (IPP) Scheme and a Power Purchase Agreement was signed
  • The A-5 Laem Chabang sea port was opened for initial handling of general cargo

1998

  • Universal Coal Company Limited was renamed as 'Banpu Terminal Company Limited'
  • Mampun Pandan mine in Sumatra, Indonesia, was granted a mining concession from the Indonesian government
  • Operations at Jorong mine in Indonesia commenced with an annual production capacity of 3 million tonnes
  • TECO acquired a new shareholder, changing its shareholding structure; resulting in Banpu Public Company Limited holding 37.5%, Texaco Inc. holding 37.5%, and Edison Mission Energy, the new shareholder, holding 25%
  • BLCP Power Limited’s shareholding structure changed, resulting in Banpu Public Company Limited holding 35%, PowerGen Holding B.V. holding 35% and Loxley Energy Company Limited holding 30%

1999

  • The Company raised THB 600 million through issuing and offering 600,000 debentures to shareholders at THB 1,000 each
  • Banpu’s registered capital increased from THB 1,218 million to THB 3,540 million

2000

  • The Company acquired a 30% stake of the registered capital of Amata Power (Bien Hoa) Limited, a power production company located in an industrial estate in the South of Vietnam
  • TECO’s completed construction of its power plant in Ratchaburi Province, and started supplying electricity to EGAT
  • Sithe Pacific Holdings Limited purchased 22.07% of the total shares of Cogeneration Public Company Limited (COCO) under a Call Option Agreement, resulting in a reduction of Banpu’s ownership in COCO to approximately 10.78% of the total shares
  • Banpu acquired a 12.38% stake in Ratchaburi Electricity Generating Holding Public Company Limited (RATCH) via its Initial Public Offering (IPO)

2001

  • Banpu’s sold its remaining shares in COCO to Tractebel SA
  • Banpu together with PT. Centralink Wisesa International, won the bid for ownership of four mining companies in Indonesia collectively called "Indocoal", with total coal reserves of over 180 million tonnes
  • The Company divested its share of Banpu Terminal Company Limited, Banpu’s affiliate operating A5 port at Laem Chabang

2002

  • January 1: The change of fiscal year to calendar year start date was approved for Banpu and its subsidiaries
  • March 1: Banpu became a direct shareholder of Indocoal, as a result of its consolidation
  • July 3: The Company signed contracts with Imerys SA to sell the Company’s equity investment in the kaolin and ball clay businesses, in accordance with its policy to unload non-core business and focus on core businesses of coal and power generation
  • Banpu increased its stake in RATCH to 14.99%

2003

  • Banpu obtained a Board seat on RATCH
  • August 27: The Company began to build a production base in China by acquiring a 19% stake in Asian American Coal Inc. (AACI), the only non-Chinese company with investments in coal projects in China
  • August 27: BP Overseas Development Company Limited (a subsidiary, in which Banpu holds 100% of its total subscribed shares) invested in ordinary shares of Asian American Coal Inc. (AACI) at 18.84% of the entire issued and subscribed shares, totaling USD 13.44 million
  • September 15: BLCP Power Limited was granted the first draw down of the USD 1.1 billion debt financing from a consortium of 12 Thai and 5 international financing institutions, for the construction of BLCP coal-fired 1,434 MW power plant
  • November 14: Banpu divested 37.5% of its stake in TECO to RATCH

2004

  • January 27: The Company acquired a 94% stake of PT. Bharinto Ekatama, located on the Southwest of Trubaindo coal deposit in East Kalimantan
  • February 2: Banpu’s 30% stake or 1.5 million shares in MRD-ECC Company Limited was sold to Imerys Ceramics (Thailand) Limited

2005

  • March 25: Banpu Power Vietnam I Company Limited (BPVI), a 100% Banpu owned subsidiary, sold all of its shares (30%) in APBH to Electrowatt Ekono AG Company Limited, in accordance with Banpu’s policy to focus on coal mining and coal-fired power generation
  • May 16: Banpu China Pte. Ltd., Banpu's wholly-owned subsidiary company, signed a joint venture with Hebi Coal and Electricity Co., Ltd. (HCEC) to set up a company named Hebi Zhong Tai Mining Co., Ltd. to invest and operate coal mining business in China
  • July 15: The Company divested its total stakes in Yen Bai Banpu Calcium Carbonate Limited (YBB) to Imerys Ceramics (Thailand) Limited
  • August 26: The Company divested its total stakes in PT. Nusantara Thai Coal (NTC), the holder of a mining concession in Mampun Pandan

2006

  • February 9: Banpu Power Limited, a subsidiary of the Company, acquired 100% of Peak Pacific Investment Company Limited (PPIC), which was later renamed as Banpu Power Investment Co., Ltd. (BPIC), resulting in Banpu having control of three Combined Heat and Power (CHP) plants, with the total power capacity of 248 megawatts and steam capacity of 798 tonnes per hour
  • October 19: BP Overseas Development Co., Ltd. (a 100% owned subsidiary of Banpu) acquired 20.9% of the total issued shares of Asian American Gas Inc. (AAGI), which has investments in projects focusing on exploration and production of coal-bed methane in China
  • October: BLCP's 1st Unit commenced commercial operations
  • December 18: Banpu Power Limited (a 99.99% Banpu owned subsidiary) signed the Heads of Agreement (HOA) with the Government of the Lao People's Democratic Republic, giving it the right to conduct a feasibility study for development and investment in a 1,878 MW mine-mouth power plant and coal mine in Hongsa District, Xayaburi Province, Lao PDR

2007

  • February: BLCP's 2nd Unit commenced commercial operations
  • May 4: Banpu’s total stakes in PT. Barasentosa Lestari, the holder of Barasentosa mining concession in Sumatra, were divested to PT. Duta Sarana Internusa and Buntardjo Hartadi Sutanto
  • November 28: Banpu Power Limited (a 99% Banpu owned subsidiary) signed a Joint Development Agreement (JDA) with Ratchaburi Electricity Generating Holding Public Company Limited (RATCH) with the purpose of collaborating the study and the development of the Hongsa project
  • October 5: Universal Exploration Co., Ltd. (UNEX) (a 99.99% Banpu owned subsidiary) was dissolved, since UNEX had no business related to the energy sector and had not been operating for years
  • December 18: PT. Indo Tambangraya Megah TBK (ITM) (a 99% Banpu owned subsidiary) listed on the Indonesia Stock Exchange (ISX), resulting in Banpu holding 73.72% shares in ITM
  • Banpu Power Limited and RATCH, as the developer of the Hongsa project, entered into a Memorandum of Understanding with EGAT, specifying the key terms and conditions for the preparation and development of the Power Purchase Agreement

2008

  • February 4: Banpu divested its total stakes in Asian American Gas, Inc. (AAGI), (the operator of 2 coal-bed methane exploration and production projects in China) to China CBM Investment Holdings Limited
  • June 6: the Company signed a Share Purchase Agreement via its wholly owned subsidiary BP Overseas Development Company Limited, to acquire an additional 78.40% shareholding in AACI, resulting in Banpu holding a 100% stake in AACI

2009

  • June 6: the Company signed a Share Purchase Agreement via its wholly owned subsidiary BP Overseas Development Company Limited, to acquire an additional 78.40% shareholding in AACI, resulting in Banpu holding a 100% stake in AACI
  • May 4: Banpu China Pte. Ltd. (Banpu China) (a 100% Banpu owned subsidiary registered in Singapore) was dissolved, as it had no business related to the energy sector and had not been operating for years
  • November 30: Banpu Minerals Co., Ltd. (a 99.99% Banpu owned subsidiary) established Banpu Australia Co. Pty Ltd, a new subsidiary registered in Australia, to operate coal mining and power businesses - including exploration, concession obtaining, mining contractor and power plant operations, as well as coal and power trading in Australia
  • HPC and PFMC, the two joint venture companies in which Banpu Power Limited (BPP) holds 40% and 37.5% respectively, entered into Concession Agreements (CA) with the Government of the Lao People’s Democratic Republic, which granted a power concession to HPC and a mining concession to PFMC for a period of 25 years from the commercial operation date

2010

  • April 2: Hongsa Power Company Limited (HPC) entered into the Power Purchase Agreement (PPA) with EGAT, which granted 25 years of power trading as of the commercial operation date anticipated to be in 2015
  • August 5: Banpu established contracts for credit facilities with nine financial institutions, which set out preliminary agreements on a loan of approximately USD 2.783 billion (around THB 94.620 billion)
  • September 2: Banpu Minerals (Singapore) Pte. Ltd.,(BMS) a 100% Banpu owned subsidiary, sold 98.5 million of its shares, accounting for a 8.72% share in ITM. After the transaction, Banpu remained ITM’s largest shareholder with a 65% share
  • November 18: Banpu Public Company Limited and Banpu Power Limited (collectively, "Banpu Group") sold 202.4 million existing common shares, which constituted Banpu Group’s entire holding in Ratchaburi Electricity Generating Holding Public Company Limited (RATCH) or 13.96% of RATCH’s issued and paid up capital, through a global book-build transaction for both domestic and international investors
  • November 26: Banpu Minerals (Singapore) Pte. Ltd., a 100% Banpu owned subsidiary, acquired a 100% stake in Centennial Coal Company Limited (Centennial), a coal mining and marketing company based in New South Wales, Australia, that supplies thermal and coking coals to both domestic and export markets
  • Construction of the Hongsa Power Plant Project commenced

2011

  • March 8: Banpu Minerals (Singapore) Pte. Ltd. (BMS), a subsidiary of Banpu, acquired 30 million shares (through a private placement) from Hunnu Coal Limited, an Australia-listed company which has several pre-development coal projects in Mongolia
  • March 11: AACI SAADEC (BVI) Holdings Limited, a subsidiary of Banpu, divested 100% of its shares in Shanxi Asian American-Daning Company Limited (SAADEC (HK), which holds a 56% equity interest in Shanxi Asian American-Daning Energy Co., Ltd. (Daning mine in Shanxi, PRC
  • September 12: BMS made an offer to acquire all the shares in Hunnu Coal Limited at AUD 423 million
  • December 28: BMS successfully acquired 100% of the shares in Hunnu Coal Limited

2012

  • May: Banpu issued Baht-denominated, name-registered, unsecured and non-subordinated debentures worth THB 6 billion in total – consisting of THB 3 billion 7-year debentures, and THB 3 billion 10-year debentures.
  • September: Gaohe mine in China commenced commercial operations; its annual production capacity expected to reach the maximum of 6 million tonnes in 2013

2013

  • The Company established BMS Coal Sales Pt. Ltd. as a marketing, sell and trading office in Singapore
  • July 16: Banpu completed its share repurchase program from the main board of the Stock Exchange of Thailand. The total repurchase worth around THB 3,958.57 million or equivalent to USD 133.38 million. The total repurchase share was 13.56 million shares at a par value of THB 10 each, equal to 5% of the issued shares
  • September 9: The Company announced a 1-for-10 share split plan

2014

  • February 6: The Company decreased the paid-up capital from THB 2,717,478,550 to THB 2,581,878,550 by writting off 135,600,000 company shares at par value of THB 1 per share worth THB 135,600,000 in total. After the registration of this amendment to the paid-up capital, the Company's paid-up capital was THB 2,581,878,550, made up of an equal number of common stock at par value of THB 1 each

2015

  • 15 January: Shanxi Luguang Power Co., Ltd. was approved by Ministry of Commerce, Shanxi Province, People’s Republic of China. The firm is a joint venture in the energy business between Banpu Power Investment Co., Ltd. which is Banpu Plc.’s subsidiary, Shanxi Lu’an Mining (Group) Co., Ltd. and Gemeng International Energy Co., Ltd. The joint venture is for co-developing the Shanxi Lu Guang power plant, a new 1,320 MW coal-fired power plant to be located in Shanxi Province, People’s Republic of China.  
  • 9 April: The Board of Directors appointed Ms. Somruedee Chaimongkol as Chief Executive Officer to succeed Mr. Chanin Vongkusolkit, effective from 10 April 2015.
  • 29 July: The Board of Directors resolved to issue Initial Public Offering (IPO) shares of Banpu Power Co., Ltd. (“BPP”) to the public as well as to list the Company in the stock exchange (“Listing Plan”).  

2016

  • 28 March: Banpu has acquired the Chaffee Corners Joint Exploration Agreement (JEA) which runs a low-cost shale gas operation in the northeast section of the Marcellus Shale play in Pennsylvania
  • 14 April: Through a subsidiary of its wholly-owned Banpu Power Public Company Limited (‘BPP’), Banpu has signed Sales and Purchase Agreements for the rights to acquire 100% of the share capital in four solar power projects in Shandong province, People’s Republic of China with an aggregate capacity of 78.5 MW.