Gulf Energy Development Public Company Limited (SET: GULF) announced the establishment of subsidiaries, namely, Gulf Power Generation Services Company Limited and Gulf Waste to Energy Holdings Company Limited, via the Stock Exchange of Thailand (SET).
The company established Gulf Power Generation Services Company Limited, which is a wholly-owned subsidiary incorporated in Thailand with a registered capital of THB 20,000,000, with the objective to provide operations and maintenance, engineering, financial, accounting and managerial services as well as other services to companies in the group that engage in the power generation business and other related businesses.
In addition, the company also established Gulf Waste to Energy Holdings Company Limited, the company’s wholly-owned subsidiary incorporated in Thailand with a registered capital of THB 4,000,000, with the objective of investing in municipal and industrial waste-to-energy projects and related businesses as well as to provide managerial, technical, support or financial management services to companies in the group.
The establishment of Gulf Waste to Energy Holdings Company Limited aligns with the company’s commitment to promote sustainable development as waste-to-energy projects can draw out additional value from community and industrial waste through the energy recovery process while also helping to reduce the amount of landfill waste in the country. This is in line with the principles of a circular economy, an important foundation for creating a low-carbon and sustainable society.