Gulf Development Public Company Limited (SET: GULF) has informed the Stock Exchange of Thailand that, on October 1, 2026, the Chiang Mai Waste to Energy municipal waste-to-energy power project successfully commenced commercial operation and began supplying electricity to the Provincial Electricity Authority (PEA) as scheduled.
The project is operated by Chiangmai Waste to Energy Company Limited (CMWTE), a subsidiary in which the Company indirectly holds a 99.23% equity interest through Gulf Waste to Energy Holdings Company Limited (GWTE).
The Chiangmai Waste to Energy project is a municipal waste-to-energy power project classified as a Very Small Power Producer (VSPP), with a contracted capacity of 8.0 megawatts (installed capacity of 9.5 megawatts), and is located in Doi Saket district, Chiang Mai province. The project supplies electricity to PEA under a 20-year power purchase agreement.
GULF stated that the Chiangmai Waste to Energy project will help reduce the volume of waste disposed of in landfills and the need for additional landfill sites in Chiang Mai province, while supporting government policies on clean energy and efficient waste management in line with the circular economy concept and promoting the transition toward a low-carbon society.
