Gulf Energy Development Private Limited has finalised 25-year-long power purchase agreements (PPAs) with the Electricity Generating Authority of Thailand (EGAT) for the construction of 25 solar farms in the country. The planned solar farms will generate a combined capacity of 1,353 MW and are expected to offer a cost-effective solution compared to the current power tariff.
Furthermore, these projects are part of a larger renewables scheme supervised by the Energy Regulatory Commission and will receive feed-in tariffs and are set to commence commercial operation between 2024 and 2029. Gulf Energy aims to increase its investments in renewable energy sources to ensure that at least 40 per cent of its portfolio is comprised of clean energy by 2035.
