Power plant stocks rise, GPSC jumps 4.62% on data center criteria nearing October conclusion

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Summary · why it matters

Power plant stocks rose prominently this morning, with GPSC jumping 4.62%, up 2.25 baht to 51.00 baht, on trading value of 578.88 million baht, buoyed by progress on revising data center criteria, as the Data Center board gradually finalizes the approval and regulatory framework for new data center investment within a one-month timeframe, with a conclusion expected no later than October 15. Meanwhile, agencies that must amend related laws are scheduled to present proposals to the Cabinet within October 2026, a positive sentiment for the power plant sector, especially companies with strong capital bases such as GULF and GPSC. Short-term support also comes from the baht strengthening to 33.55 baht per dollar from 33.73 baht per dollar yesterday, and short-term US government bond yields falling 5 bps to 5.227%. Krungsri Securities recommends focusing on GULF, GPSC and BGRIM with 2027 target prices of 77.00 baht, 61.00 baht and 23.00 baht respectively. Asia Plus Securities noted that GPSC targets new generating capacity of about 5,000 MW from the power plant procurement round under Thailand's PDP2026 plan, and plans to list its AEPL project in India on the Indian stock market in 2028, while seeking M&A in Laos, targeting new projects that yield more than 8-10% returns, and plans initial data center investment of about 50-100MW in both Thailand and India.

Impact on assets 4

Energy Transition & Power Demand▲
Global Power Synergy PCL
GPSC
▲ PositiveRegulationrelevance

GPSC jumps 4.62% as data center criteria revision nears October conclusion, a positive for power plant operators with strong capital.

Others▼

Off-coverage companies 1

Asiatech Energy Pte. Ltd.
Private± Mixedrelevance