SRC

Gulf Energy Development Public Company Limited (GULF) has received an announcement from the Office of the Energy Regulatory Commission (OERC), indicating that the Electricity Generating Authority of Thailand (EGAT) will proceed with construction of the 500kV transmission line, a project of Gulf SRC Company Limited (GSRC), starting at Khao Khan Song sub-district, Sriracha district, Chonburi province, to the Pluak Daeng substation, located in Pluak Daeng sub-district, Pluak Daeng district, Rayong province with an approximate distance of 10.90 km. The announcement is one of the key milestones in relation to the development of the GSRC power project as EGAT will be able to commence construction of the 500kV transmission line to facilitate power purchase from the GSRC power project as scheduled for commercial operation in the future. The construction of transmission line shall be in accordance with regulations stated in the announcement. The GSRC power project is located in the WHA Eastern Seaboard Industrial Estate 1, Sriracha district, Chonburi province, with an approximate project value of 51 billion, in which GULF Group holds a 70% stake and Mitsui & Co., Ltd. holds a 30% stake. It has a contracted power generation capacity of 2,500 MW to supply electricity to EGAT for 25 years. The project, comprising 4 units, will successively commence commercial operation every 6 months, starting from March 2021 until October 2022. The GSRC power project has commenced construction since December 3, 2018.