GULF Remains on Track of Commencing “GSRC”, Expecting to Book ฿55Bn of Revenue in 2021

Ms. Yupapin Wangviwat, Director of Gulf Energy Development Public Company Limited (GULF), stated with confidence that the commercial of date (COD) of GSRC project, an independent power producer (IPP) with a production capacity of 2,500MW in Chonburi Province, will be able to commence the production within 2021-2022 as planned. The first 625MW production will commence in March 2021 and another 625MW in October 2021. The remaining 1,250MW is scheduled to commence the operation in 2022.

Meanwhile, the GPD power plant with a production capacity of 2,500MW in Rayong Province will be able to continue the construction without delay, even though the government put high alert on Chonburi and Rayong due to the coronavirus outbreak.

 

GULF expected its revenue in 2021 to reach 54-55 billion baht from the recognition of GSRC, while the wind power project in Vietnam with a production of 128MW is expected to commence the operation of 30MW in March 2021, and another 98MW in October 2021. Furthermore, the company will also record a full-year revenue from BKR2 power plant in Germany with a production of 464.8MW that commenced the operation late last year.