GULF Inks the Deal with Jinkosolar (Haining) to Procure Solar Panels for 3.5GW Power Projects

Gulf Energy Development Public Company Limited (SET: GULF) has announced the execution of the Master Supply Agreement with Jinkosolar (Haining) Co., Ltd. to procure solar panels for installation in solar power projects via the Stock Exchange of Thailand.

GULF stated that Gulf Engineering Services Co., Ltd., a subsidiary in which the company holds 100% equity stake, has entered into a Master Supply Agreement with Jinkosolar (Haining) Co., Ltd. to supply solar panels (PV Module) for solar power projects under the company’s group and its joint ventures including solar farms, solar farms with battery energy storage systems, and solar rooftop projects with installed capacity of approximately 3,500 megawatts, which are scheduled to commence commercial operation during 2024-2030.

Jinkosolar (Haining) Co., Ltd. is a leader in the global PV Module industry and is a subsidiary of Jinkosolar Co., Ltd., which is listed on the Shanghai Stock Exchange and an affiliate of Jinkosolar Holding Co., Ltd., which is listed on the New York Stock Exchange. Jinkosolar group has the largest production capacity amongst Tier1 solar panels, as well as the world’s largest PV module exporter with more than 190 countries worldwide, such as the United States, Japan, the United Kingdom, etc. In addition, Jinkosolar group’s solar panels utilize N-Type technology, which offers higher efficiency compared to traditional panels, converting more sunlight into electricity.

The execution of the aforementioned Master Supply Agreement aligns with the company’s strategy to procure quality PV Modules from reputable and globally recognized suppliers. Furthermore, purchasing equipment in bulk also enhances economies of scale, allowing the company to manage costs effectively and generate higher returns.