Gulf moves into Chiang Mai energy
Power producer buys waste manager
Gulf Energy Development Plc, Thailand’s largest private power producer by capital market, has acquired Chiang Mai Waste To Energy Co to operate an electricity generation facility as it aims to boost the renewable energy business and tackle increasing amounts of garbage.
Chiang Mai Waste To Energy is a licence holder of waste management and power generation based on waste fuel in the northern province.
Gulf bought shares through its wholly owned Gulf Renewable Energy Co from All Waste To Energy Co, which holds a 99.99% share in Chiang Mai Waste To Energy, according to a report submitted to the Stock Exchange of Thailand yesterday.
The value of the purchase was not disclosed.
The acquisition gives Gulf the right to manage waste disposal for Chiang…
