Gulf Development Public Company Limited (SET: GULF) has informed the Stock Exchange of Thailand that, on September 7, 2026, four companies under Blue Sky Wind Power Holding Company Limited (BSWPH) entered into 25-year PPAs with Electricity Generating Authority of Thailand (EGAT) for the development and operation of four wind power projects with a total contracted capacity of 346.5 megawatts.
Previously, Gulf Renewable Energy Company Limited (GRE), a wholly owned subsidiary of the company, has acquired 50.0% equity interest in BSWPH to jointly develop five wind power projects with Acciona Energia (Thailand) Company Limited.
The five projects have a total contracted capacity of 436.5 megawatts. Of these, Blue Sky Wind Power 31 Company Limited, the developer of one wind power project with a contracted capacity of 90.0 megawatts and commercial operation scheduled to commence in 2027, successfully entered into a power purchase agreement (PPA) with EGAT in June 2025.
The four remaining projects are operated by the following companies:
- Blue Sky Wind Power 36 Company Limited, the developer of one wind power project with a contracted capacity of 90.0 megawatts, with commercial operation scheduled to commence in 2029.
- Blue Sky Wind Power 52 Company Limited, the developer of one wind power project with a contracted capacity of 90.0 megawatts, with commercial operation scheduled to commence in 2029.
- Blue Sky Wind Power 39 Company Limited, the developer of one wind power project with a contracted capacity of 90.0 megawatts, with commercial operation scheduled to commence in 2029.
- Blue Sky Wind Power 3 Company Limited, the developer of one wind power project with a contracted capacity of 76.5 megawatts, with commercial operation scheduled to commence in 2030.
The aforementioned projects are part of the renewable energy projects in Thailand under GRE, which were awarded under the regulations of the Energy Regulatory Commission regarding the purchasing of electricity from renewable energy sources under the Feed-in-Tariff (FiT) Scheme between 2022-2030 for power plants with no fuel costs. These projects are scheduled to commence commercial operations between 2024-2030.
The wind power projects have a fixed electricity purchase tariff of THB 3.1014 per kilowatt-hour throughout the 25-year PPAs with EGAT. The purchase of electricity from these projects will help reduce fuel price volatility and alleviate both household and industrial sectors’ electricity cost burden by providing access to electricity at reasonable price throughout the contract period, as the tariff is lower than the current average electricity price.
At present, the company’s group has entered into PPAs with EGAT for a total of 14 wind power projects in Thailand, with a combined contracted capacity of 1,058.5 megawatts. These projects are scheduled to commence commercial operations between 2027-2030.
