GUNKUL Targets a 3-Year Plan to Invest THB45,000 Million, Achieving 2,000MW Renewable Energy Portfolio

Miss Sopacha Dhumrongpiyawut, Chief Executive Officer of Gunkul Engineering Public Company Limited (SET: GUNKUL), stated that the company planned a 5-year investment capital of THB 45,000 million for the expansion of its renewable energy portfolio from the current 1,563 megawatts to at least 2,000 megawatts in three years (2024-2026).

GUNKUL will gradually sign additional power purchasing agreements (PPA) to achieve 832 megawatts. The company has currently completed the PPA signing of 621.4 megawatts and expected the commercial operation date (COD) to be in 2026, which will accumulate into 1,563 megawatts of power generation capacity, an increase of 100% from the current 615.55 megawatts.

The company also prepared for energy innovation, such as inventing new business models, adjusting strategies to support the transformation of the business landscape, and focusing on cooperation with alliances in developing a variety of renewable energy models.

In addition, GUNKUL also released a peer-to-peer energy trading platform to support the production of renewable energy and searched for feasibility in the new s-curve business, such as the Battery Energy Storage System (BESS) and the virtual power plant, as well as seeking investment opportunities for renewable energy in any form both domestically and internationally.

Regarding the business operation, the company maintained its growth target of at least 15% a year. GUNKUL expected a total revenue of around THB 9,000 million in 2024 and anticipated the THB 10,000 million mark in 2025. The company reported a total revenue of THB 7,737.12 million in 2023, with a net profit of THB 1,576.19 million, as every operating segment of the company, including the electricity generation and equipment procurement business, the EPC business, and the renewable energy power plant business, had a backlog, which gradually recognized the revenue and showed concrete growth.