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Gulf Energy Development Expands Renewable Energy Portfolio With 59 Megawatt Solar Initiatives In Thailand

Representational picture. Credit: Canva

In a latest announcement on the Stock Exchange of Thailand, Gulf Energy Development Public Company Limited unveiled its newest step to strengthen Thailand’s renewable power sector. Building on earlier bulletins made in October and December 2023, Gulf Energy Development’s subsidiary, Saengdee Clean Energy Co., Ltd., signed a big take care of the Electricity Generating Authority of Thailand (EGAT).

Under this settlement, Saengdee Clean Energy Co., Ltd. obtained 25-year Power Purchase Agreements with EGAT for the event of photo voltaic farms with battery power storage programs (BESS) initiatives. These initiatives boast a mixed capability of 59 megawatts, with a scheduled industrial operation date (SCOD) of 2026.

This newest effort provides to Gulf Energy Development’s present portfolio, which already contains 25 solar energy initiatives in Thailand. With a complete contracted capability of 1,353.1 megawatts, these initiatives include conventional photo voltaic farms and people built-in with battery power storage programs. Scheduled to go surfing between 2024 and 2029, these initiatives are set to contribute considerably to Thailand’s renewable power panorama.

Solar farms and BESS initiatives profit from a positive Feed-in Tariff (FiT) fee, which provides stability and predictability in electrical energy costs all through the contract time period. By utilizing renewable power sources, Gulf Energy Development goals to decrease gas costs and ease the burden of electrical energy prices in households and the economic sector.

In addition, these initiatives are in keeping with the strategic imaginative and prescient of Gulf Energy Development to extend the proportion of renewable power to a minimum of 40% by 2035. This dedication is in keeping with Thailand’s broader goal to advertise sustainability and entice international investments by adopting clear power options.

Looking forward, Gulf Energy Development stays dedicated to in search of extra funding in renewable power, which incorporates solar energy, wind energy, hydroelectric energy, and waste-to-energy initiatives, domestically. and worldwide. The firm guarantees to supply additional updates on its progress in growing these initiatives.

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