Gulf Development Public Company Limited (SET: GULF) has announced the execution of the wind turbine supply agreement and wind turbine construction agreement with Goldwind group for wind power projects via the Stock Exchange of Thailand (SET).
GULF stated that Gulf Renewable Energy Company Limited (“GRE”), a wholly owned subsidiary of GULF, has executed a Wind Turbine Supply Agreement with Goldwind International Holding (Hong Kong) Company Limited (“Goldwind (HK)”) and a Wind Turbine Construction Agreement with Goldwind International (Thailand) Company Limited (“Goldwind (TH)”) for four wind power projects with a total contracted capacity of 286 megawatts and a total investment value of approximately THB 15.7 billion. The aforementioned projects have already signed 25-year Power Purchase Agreements (PPAs) with the Electricity Generating Authority of Thailand (EGAT) and will receive electricity price under a Feed-in-Tariff (FiT) scheme of THB 3.1014 per kilowatt-hour throughout the term of the PPAs. Construction for the projects is scheduled to commence within 2025, with commercial operation scheduled in 2027.
Goldwind (HK) and Goldwind (TH) are companies under Goldwind Science & Technology Company Limited (“Goldwind”), a company listed on the Shenzhen and Hong Kong stock exchanges and recognized as one of the global leaders in integrated wind power solutions. Goldwind’s scope of expertise covers the design, manufacturing, and installation of both onshore and offshore wind turbines, as well as the provision of maintenance services and clean energy asset management.
With a global business network and extensive experience in wind power projects across Asia, Europe, the Americas, Africa, and Australia, Goldwind is also actively involved in the development of multiple wind power projects in Thailand and has established service centers to provide comprehensive and efficient customer support. The execution of these agreements aligns with GULF’s strategy of securing high-quality wind turbine technology from internationally recognized and highly experienced partners, particularly in advanced renewable energy solutions.
This collaboration underscores GULF’s commitment to adopting best-in-class renewable energy technologies to support sustainable growth and provide stable and reliable clean energy for communities. GULF remains committed to continuously expanding its investments in renewable power projects, both in Thailand and overseas, as part of its long-term strategy to drive future business growth. These efforts also support the company’s long-term target of achieving Net Zero Carbon Emissions and align with the Thai government’s policy to promote renewable energy for the country’s sustainable development.
