Gulf Energy Development Public Company Limited (GULF) notified the Stock Exchange of Thailand regarding the initial investment in offshore wind power plant development. Capacity of 1,500 megawatts through its subsidiary Gulf International Holding (GIH) by indirectly acquiring a 24.99% stake in the offshore wind power project, which has already invested in the project in the amount of approximately 90.7 million pounds or approximately 3.7 billion baht
25.01% of the project is jointly invested in Green Investment Group (GIG), a fund specializing in clean energy investments managed by Macquarie Asset Management, and the remaining 50%. Held by TotalEnergies which is a global energy company headquartered in France.
The project is a 1,500 MW offshore wind project in early development, located off the coast of Lincolnshire in the east of the UK. in the Southern North Sea as a joint development between TotalEnergies and Corio Generation, the offshore wind specialists under GIG
The project has been granted Seabed Rights through the fourth round of selection of Seabed Land Leaseees in early 2021 and has signed a land lease agreement with The Crown Estate. In January 2023, it was completed. This is considered an important step in the development of the project.
In addition, the project plans to participate in the bidding for electricity under the CfD (Contracts for Difference), whereby the project will sell electricity to the UK government’s grid with a fixed price guarantee for 15 years or sign a contract. In the Private Power Purchase Agreement between the private sector and corporate customers Or sell electricity to the Merchant Market and is expected to commence commercial operation in late 2029.
However, when completed, it will be one of the largest offshore wind projects in the UK. It will play a key role in the UK government’s commitment to achieving 50,000 MW of offshore wind capacity by 2070 and achieving net zero greenhouse gas emissions (Net). -Zero Emissions) by 2050
investment this time It marks the company’s entry point into the UK offshore wind energy market. This is in line with the company’s strategy to expand its renewable energy business. It will also enable the company to form strong synergies with experienced global energy companies.
The size of such transaction is less than the criteria that must be taken according to the Notification of the Capital Market Supervisory Board No. TorJor. of listed companies and not a connected transaction But the company has a duty to report information to the Stock Exchange of Thailand. According to the regulations of the Stock Exchange of Thailand on rules, conditions and procedures regarding the disclosure of information and any action. of listed companies
