Gunkul Engineering Public Company Limited (SET: GUNKUL) has announced the Power Purchase Agreement with the Electricity Generating Authority of Thailand for the installation of ground-mounted solar power plant projects with a total electricity generation capacity of 31.0 megawatts.
Reference is made to the group of Gunkul Engineering Public Company Limited (the Company) has submitted the applications to develop power plants under the announcement regarding the purchase of electricity in accordance with the Regulations for Purchasing Electricity from Renewable Energy Sources under a Feed-in-Tariff (FiT) Scheme between 2022-2030 for Power Plants with No Fuel Costs of the Energy Regulatory Commission (ERC), and was awarded the renewable energy projects according to the announcement of the ERC regarding the list of applicants for electricity production who have been awarded according to the Regulations for Purchasing Electricity from Renewable Energy Sources under a Feed-in-Tariff (FiT) Scheme between 2022-2030 for Power Plants with No Fuel Costs, B.E. 2022, dated 5 th April 2023 (the Announcement).
On 29th April 2024, Gunkul One Energy 9 Co., Ltd., a wholly-owned subsidiary of the Company with a 100% direct shareholding, entered into a power purchase agreement with the Electricity Generating Authority of Thailand (EGAT) for an additional project. This project involves the installation of ground-mounted solar power plant projects (Solar farms), for a duration of 25 years, with a total electricity generation capacity of 31.0 megawatts according to the contract. The feed-in tariff (FiT) rate is set at 2.1679 baht per unit.
Furthermore, when combining the aforementioned projects with the solar farms and solar farms with battery energy storage systems projects, for which contracts were previously signed on 20th December 2023, 22nd December 2023, and 28th February 2024, respectively, the group of companies has entered into power purchase agreements for a total of 15 projects. These projects have a combined electricity generation capacity of 652.4 megawatts. It is anticipated that commercial operations will gradually resume starting from the year 2026 onwards. Consequently, the Company’s total electricity generation capacity under power purchase agreements has increased to 1,367.62 megawatts, up from the previous amount of 615.55 megawatts.
The company hereby informs the Stock Exchange of Thailand about the aforementioned signing of the Power Purchase Agreement (PPA). Additionally, the Company will progressively sign additional PPAs for projects selected in accordance with the announcement of the ERC. Further updates on progress will be provided accordingly.
