J.R.W. Utility Public Company Limited

J.R.W. Utility Public Company Limited, or JR, is in talks to supply electrical equipment to both the public and private sectors, with a combined value of approximately 1 billion baht. Chief Executive Officer Charan Wiwatjetsadawut said the company hopes to be selected by as many project owners as possible in order to expand its revenue channels and support future growth. Meanwhile, JR is preparing to take part in tenders for two additional substation projects, with clarity expected during the remainder of 2026, which would help boost its current backlog of approximately 5 billion baht. The work is expected to be delivered and recognised as revenue within roughly two years from now. The company views the new power development plan, which raises the renewable energy quota, as a positive factor that will create more opportunities for engineering, procurement, system installation and construction, or EPC, work in the future. At the same time, it is placing more emphasis on smaller, fast-delivery projects to generate cash flow and reduce the risk of large projects. Overall business performance in the second half of 2026 is expected to improve continuously from the first half of this year.

J.R.W. Utility Public Company Limited, or JR, expects to benefit from the new national power development plan draft, which increases renewable energy quotas by more than 20,000 megawatts, boosting future opportunities for engineering, system installation, and construction work. Chief Executive Officer Charan Wiwatjesadawut said the company currently has a backlog of more than 5 billion baht, with revenue recognition extending to around 2029, and plans to bid for additional transmission line system work worth more than 100 million baht in the remainder of this year. The company will focus on taking on smaller projects with quick delivery, or quick wins, to generate steady revenue and reduce risk from large construction contracts. It also expects second-half 2026 performance to grow better than the first half, as signs emerge that project delivery is returning to normal and there are opportunities to secure additional new projects.

JR says the massive increase in electricity demand in Thailand is a golden opportunity for the company, spanning EPC work for building electrical substations and a product trading model. Chief Executive Officer Mr. Jaran Wiwatjesadawut stated that the company has expanded its scope for 115 kV substation system work, moving from a focus on large stations to also taking on smaller station projects, while leveraging its expertise in sourcing key equipment for power plants to immediately meet market needs and reduce the problem of long lead times of up to three years. In addition, JR is shifting more emphasis toward product sales to mitigate revenue and fixed-cost risks, with benefits expected to become clear from late third quarter to the fourth quarter of this year. The company is also accelerating its expansion into the oil and gas industry, currently in the process of registering as a vendor with major customers, which will open the door to large-scale infrastructure projects over the long term.