GULF Commences the Operation of GSRC 2nd Unit, Booking Full Revenue in 4Q21

GULF announced a COD of 662.5MW 2nd Unit of GSRC power project, expecting all 4 units to fully operate by October 2022.

Gulf Energy Development Public Company Limited (GULF) has announced that on October 1, 2021, Gulf SRC Company Limited, a subsidiary of the company and operator of GSRC power project under the Independent Power Producer (IPP) scheme, commenced the sale of electricity generated from its second unit to the Electricity Generating Authority of Thailand (EGAT) as scheduled, following the commercial operation commencement of its first unit with installed power generation capacity of 662.5 megawatts on March 31, 2021.


The GSRC power project is located in the WHA Eastern Seaboard Industrial Estate 1, Sriracha district, Chonburi province, and is one of the IPPs that uses natural gas as source of fuel under Independent Power Development Company Limited (IPD), the operator of two IPP power projects with combined installed capacity of 5,300 megawatts, namely, GSRC power project and GPD power project.

Each project has an installed capacity of 2,650.0 megawatts (comprised of 4 power producing units with capacity of 662.5 megawatts per unit) and have a 25-year power purchase agreement with EGAT.

GSRC is scheduled to commence commercial operations for units 3-4 in March and October 2022, respectively, while GPD is scheduled to commence commercial operation between 2023-2024.

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