Gunkul Engineering Public Company Limited (SET: GUNKUL) announced its execution of power purchase agreements of 8 solar farm projects via the Stock Exchange of Thailand (SET).
Gunkul Engineering Public Company Limited (SET: GUNKUL) had submitted the applications to develop power plants under the announcement regarding the purchase of electricity in accordance with the Regulations for Purchasing Electricity from Renewable Energy Sources under a Feed-in-Tariff (FiT) Scheme between 2022-2030 for Power Plants with No Fuel Costs of the Energy Regulatory Commission (ERC), and was awarded the renewable energy projects according to the announcement of the ERC regarding the list of applicants for electricity production who have been awarded according to the Regulations for Purchasing Electricity from Renewable Energy Sources under a Feed-in-Tariff (FiT) Scheme between 2022-2030 for Power Plants with No Fuel Costs, B.E. 2022, dated 5 th April 2023.
On 20 December 2023, a group of subsidiaries in which the company directly holds 100% equity through Gunkul Solar Powergen Co., Ltd., Gunkul One Energy 2 Co., Ltd. and Gunkul One Energy 9 Co., Ltd., have entered into 25-year Power Purchase Agreements with the Electricity Generating Authority of Thailand (EGAT) for the development of a total of 8 solar farm projects. The total contracted capacity is 429.6 megawatts, with a scheduled commercial operation date (SCOD) between 2026 and 2030. When the said projects are able to achieve commercial operation as scheduled, this will result in the company’s total contracted power production capacity increasing to 1,045.15 megawatts from the original 615.55 megawatts, representing an increase of 70%, which details of each project comprise of:
| The Company’s Subsidiaries | Type of Project | Contracted
Capacity (Megawatts) |
SCOD | FiT |
| 1. Gunkul Solar Powergen Co., Ltd. | Solar Farm | 60.0 | 2026 | 2.6679 |
| 2. Gunkul Solar Powergen Co., Ltd. | Solar Farm | 70.0 | 2026 | 2.1679 |
| 3. Gunkul One Energy 2 Co., Ltd | Solar Farm | 46.6 | 2026 | 2.6679 |
| 4. Gunkul Solar Powergen Co., Ltd. | Solar Farm | 46.6 | 2028 | 2.6679 |
| 5. Gunkul One Energy 2 Co., Ltd | Solar Farm | 77.6 | 2029 | 2.6679 |
| 6. Gunkul One Energy 9 Co., Ltd. | Solar Farm | 24.2 | 2029 | 2.1679 |
| 7. Gunkul One Energy 9 Co., Ltd. | Solar Farm | 63.0 | 2029 | 2.1679 |
| 8. Gunkul One Energy 2 Co., Ltd. | Solar Farm | 41.6 | 2030 | 2.6679 |
| Total | 429.6 |
The company provided the notification of the signing of the aforementioned Power Purchase Agreement (PPA) to the Stock Exchange of Thailand. The company will gradually sign additional PPA contracts according to the list of awarded projects as announced by the ERC. The company will provide further updates should there be any progress on the matter.
