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GULF signed a share purchase agreement to jointly develop the industrial waste power plant project


GULF signed a share purchase agreement to jointly develop 12 industrial waste power plants with a capacity of 96 MW in total, scheduled for commercial operation (COD) in 2026, developed by the group.

 

As Energy Regulatory Commission (ERC) has issued a Notification to purchase a 100 MW of Electricity from Renewable Energy under a Feed-in Tariff (FiT) Scheme for B.E. 2565 - 2573 (2022-2030) for Industrial Waste Fuel in October 2022, and announced a list of 13 selected candidates in April 2023. [1] Suntech Innovation Power Company Limited (SIP), a Joint venture between MILLCON group & GULF, signed A power purchase agreement (PPA) with PEA for the development of 2 industrial waste power plant projects with a capacity of 16 MW in total. [2]


On April 22nd, 2024, Gulf West to Energy Holdings Company Limited (GWTE), an owned subsidiary of the Gulf Energy Development Public Company Limited (GULF), signed a share purchase agreement with Earth Tech Environment Public Company Limited (ETC), to jointly develop in 10 industrial waste power plants, with capacity of 80 MW in total.  After the transaction is completed, GULF will have 12 industrial waste power plant projects, with a capacity of 96 MW in total, scheduled for commercial operation (COD) in 2026. [3]


Additionally, GTWE signed a share purchase agreement with Circular Camp Company Limited (CC), the developer of 3 projects of Solid Recovered Fuel plant from industrial waste. CC will supply SRF to support the GWTE power plants in power generation. [3]

 

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