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Business – GULF Raises THB 60 Billion (USD 1.9 Billion) for Investment in 939 MW Renewable Energy Projects

Article Summary:

Gulf Development Public Company Limited (GULF), a prominent Thai power and infrastructure conglomerate, has secured THB 60 billion (approximately USD 1.9 billion) in loan facilities. This financing will accelerate the development of 27 renewable energy projects, demonstrating GULF’s commitment to sustainable energy solutions.

Under the leadership of CEO Mr. Sarath Ratanavadi and CFO Ms. Yupapin Wangviwat, the funds will be allocated to a portfolio of 939 MW, which includes 15 solar and solar battery energy storage system (BESS) projects (843 MW) and 12 industrial waste-to-energy plants (96 MW). This strategic initiative supports GULF’s goal of achieving Net Zero emissions by 2050.

The signing ceremony was attended by esteemed dignitaries, including H.E. Dr. Angela Macdonald, the Australian Ambassador to Thailand, and H.E. Ping Kitnikone, the Canadian Ambassador to Thailand, alongside senior executives from lending institutions. This noteworthy financing highlights GULF’s proactive steps in renewable energy development.

Original Article:

GULF secures THB 60 billion, or approximately USD 1.9 billion, to invest in renewable energy power projects with a total contracted generation capacity of 939 MW

BANGKOK, Feb. 10, 2026 /PRNewswire/ — Gulf Development Public Company Limited (GULF), Thailand’s leading power and infrastructure conglomerate, has successfully secured THB 60,000 million in loan facilities to accelerate the development of 27 renewable energy projects. Led by CEO Mr. Sarath Ratanavadi and CFO Ms. Yupapin Wangviwat, the financing—channeled through GULF’s renewable energy and waste-to-energy subsidiaries—supports a 939 MW portfolio consisting of 15 solar and Solar BESS projects (843 MW) and 12 industrial waste-to-energy plants (96 MW). This landmark financing underscores GULF’s commitment to achieving Net Zero by 2050. The signing ceremony was graced by H.E. Dr. Angela Macdonald, Australian Ambassador to Thailand, and H.E. Ping Kitnikone, Canadian Ambassador to Thailand, alongside senior executives from partner lending institutions.


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