Brookfield Renewable to issue C$750M of green bonds

Kamphon Suangburanakul, Chief Executive Officer of Alpha Divisions Public Company Limited, or ALPHAX, said the business outlook for the third and fourth quarters of 2026 is being supported by the energy business, as the arrival of the rainy season increases water volumes and helps boost electricity generation from hydropower plants. The company currently has two hydropower plants in Laos with a combined installed capacity of 29.51 megawatts, selling electricity to the state-run Electricite du Laos, or EDL. At the same time, ALPHAX is building the 100-megawatt Pak San solar power plant, part of its overall capacity expansion plan. It is expected to reach commercial operation, or COD, within 2026, and once the project is commercially operational, the group's total installed capacity is expected to increase by more than four times from the existing base. On the financial business side, the company is pressing ahead with expanding its loan portfolio while focusing on asset quality. It currently has a loan portfolio of more than 300 million baht and has credit lines from financial institutions to support further portfolio expansion. In the second half of 2026, lending is expected to be at a level close to that of the first half, while the company will use AI and a credit scoring system to analyze customer behavior. Kamphon said Laos's economy is trending toward greater stability, while the country has high energy potential, creating an opportunity for ALPHAX to build on its existing base, both hydropower plants and the Pak San solar project that is preparing for COD within this year. The company has more than 100 staff in Laos.

Goldman Sachs expects several European utility companies to post strong quarterly results, with RWE, Naturgy, Enel, and EDP positioned to potentially exceed their full-year guidance. The bank points to trading activities, flexible generation, and pumping hydro as key drivers, supported by commodity volatility, elevated prices, and solid power demand. Goldman Sachs projects RWE could deliver nine-month net profit of €1.6-1.7 billion, roughly 75% of the full-year Bloomberg consensus estimate of €2.25 billion, with earnings due on November 11. For Naturgy, the bank estimates nine-month EBITDA of €4.3-4.4 billion and net profit of approximately €1.75 billion, suggesting the company could exceed its full-year bottom-line guidance of above €2.1 billion. Enel is projected to post nine-month EBITDA of €17.8 billion and net profit of €5.7-5.8 billion, more than 75% of Goldman Sachs' full-year net profit projection of €7.47 billion, ahead of its November 12 report. For EDP, Goldman Sachs sees clear upside risk to full-year guidance, projecting third-quarter EBITDA at nearly €1.2 billion and nine-month EBITDA at €3.9 billion, with expected asset rotation gains of €200-250 million for the rest of the year making the €5.3 billion full-year EBITDA guidance look conservative; EDP reports on November 6. The bank also anticipates that certain companies may book fourth-quarter restructuring provisions to support future cost savings, which could limit potential earnings beats in 2026 but improve profits in 2027-28.