Banpu Power and Banpu Plc Merger to Drive Clean Energy Focus by 2026
The merger of Banpu Power and Banpu Plc is expected to finalize by mid-2026, forming Banpu, which will oversee four core business areas. The company aims to increase EBITDA from $1.19 billion in 2024 by over 1.5 times by 2030 and reduce coal revenue from 65% of EBITDA to below 50%. Banpu plans investments in nickel mining and gas production while enhancing its clean energy and carbon capture initiatives.
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The merger between Banpu Power and its parent company, Banpu Plc, is anticipated to be completed by the first half of 2026, resulting in a new entity called Banpu. The company aims to grow its EBITDA from $1.19 billion in 2024 by more than 1.5 times by 2030, while reducing revenue from coal, which constituted 65% of EBITDA, to below 50% by 2030.
Banpu will invest in nickel mining in Indonesia in 2026, enhance gas production in the US, and focus on clean energy initiatives. The company operates gas facilities producing 836 million cubic feet per day and has carbon capture facilities in Texas capable of capturing 170,000 tonnes of CO2 annually. Banpu's total revenue was $5.2 billion last year, with a net loss of $61.5 million.
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