Gulf Development Secures THB8.6 Billion Financing for Wind Power Projects

MT Newswires Live

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Gulf Development's (SET:GULF) three wind power project subsidiaries secured 8.6 billion baht in long-term project financing from six domestic and international financial institutions, according to a Monday filing to the Thai stock exchange.

The company's shares rose nearly 1% in Tuesday's trade.

The 22-year loans were provided by Siam Commercial Bank, Bank of Ayudhya, Government Savings Bank, TMBThanachart Bank, Sumitomo Mitsui Banking, and Bank of China.

The projects have a combined capacity of 208 megawatts and an investment value of about 11.7 billion baht. Gulf Development owns a 60% stake through subsidiary Gulf Renewable Energy, with Alpha Energy Holding owning the remaining 40%.

The projects are scheduled to begin commercial operations in 2027.

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