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    Gulf Gunkul eyes state clean energy projects.

    March 22, 2023 - Bangkok Post (CBNB Abstracts)


      Gunkul Engineering Plc is collaborating with Thailand-based Gulf Energy Development Plc to improve its renewable power operations through government clean energy projects. Gulf Gunkul Corporation, a 50:50 joint venture between these two companies, is interested in participating in a new bid for a 3.66-gigawatt (GW) renewable power scheme, managed by the Energy Regulatory Commission (ERC). Bidding is predicted to occur under the next government administration, after the country's general election due in May 2023. The initial auction for a renewable power scheme, with an electricity generation capacity of 5.2 GW, gained massive interest from investors, who suggested projects with an overall capacity of nearly 17 GW. Gulf Gunkul was one of the bidders in the initial bid. The firm's 25 project proposals, including solar and wind farms, were eligible for the last round of selection. The projects have a cumulative capacity of 1100 megawatts (MW). The 5.2 GW capacity comprised of wind power (1500 MW), bio-gas (335 MW), on-ground solar farms with energy storage systems (1000 MW) and on-ground solar farms (2368 MW). The ERC is slated to declare the winners of the bid on 23 Apr 2023. Commercial start-ups of chosen projects under the 5.2 GW renewable power scheme are predicted to occur between 2024 and 2030. Within a five-year period, Gulf Gunkul intends to speed up the growth of renewable energy projects to 1000 MW. The new company will concentrate on solar and wind power projects both in Thailand and abroad, and look for business opportunities in other renewable energy development. Gunkul Engineering aims to assign capital investment of Baht 40 bn for use from 2023 to 2027. As much as Baht 22 bn of the budget will be used to support Gulf Gunkul. Around Baht 15 bn will be intended for the power generation capacity expansion plans, while the rest of the budget will finance the company's construction, hemp and energy innovation operations. Original Source: Bangkok Post,


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