GULF Initiates “Kabinburi Industrial Zone” Project, Expecting a COD in 4Q21

Gulf Energy Development Public Company Limited (GULF) has announced that on December 15, 2020, Gulf NC Company Limited, a subsidiary of the company and a Small Power Producer (SPP), entered into a Cooperation Agreement to develop an electricity distribution project in Kabinburi Industrial Zone with Kabinburi Industrial Zone Limited (KIZ) for a period of 22 years.

GNC will invest in the construction of a 22-kilovolt transmission line from the power plant to connect and distribute electricity to industrial customers in Kabinburi Industrial Zone, with a total contracted capacity of approximately 35 megawatts, and this project is expected to start selling electricity to customers in the fourth quarter of 2021.

KIZ develops and operates the Kabinburi Industrial Zone with a total area of approximately 4,000 rais located in Nongki Subdistrict, Kabinburi District, Prachinburi Province, or approximately 17 kilometers from GNC power plant. Currently, there are over 80 industrial customers with a total demand for electricity of over 70 megawatts.

GNC is a subsidiary of GULF in which the company indirectly holds a 70.0% stake through Gulf MP Company Limited to operate Nonsi Power Project with an installed power generation capacity of 126.5 megawatts and installed steam generation capacity of 20.0 tons per hour. It is located adjacent to Sahapat Kabinburi Industrial Park, Nonsi Sub-district, Kabinburi District, Prachinburi Province, and has commenced commercial operation since March 1, 2018.