Gulf Energy Development, a Stock Exchange of Thailand (SET)-listed firm, is looking forward to a 50% revenue surge, breaking past the 100 billion baht (US$3.03 billion) mark this year. This significant increase is due to the addition of electricity generation capacity and the full operation of its power plants.
In the previous year, the company’s earnings stood at 95 billion baht, a remarkable 90% growth from 49.9 billion baht in 2021, as reported by the Stock Exchange of Thailand’s website.
The anticipated revenue boost in 2023 is largely due to the Gulf’s power plants’ new capacity of 2,800 megawatts, shared Yupapin Wangviwat, the firm’s deputy chief executive and chief financial officer. With the power plants currently under construction, the total capacity is expected to hit 14,860 MW.
The key driver of this year’s revenue will be…
