Gunkul Plans to Double Revenue on Renewable-Energy Power Plants

By Anuchit Nguyen, Bloomberg:

Gunkul Engineering Pcl (GUNKUL), a Thai power and engineering company, expects sales to more than double in the next three years as it steps up investment in renewable- energy plants.

Revenue may climb to about 9 billion baht ($286 million) by the end of 2015 from an estimated 4.3 billion baht this year, Managing Director Sopacha Dhumrongpiyawut said. The Bangkok- based company will spend more than 10 billion baht through 2013 on building and acquiring wind and solar power plants, she said.

Gunkul joins other Thai power companies such as Ratchaburi Electricity Generating Holding Pcl (RATCH) and Electricity Generating Pcl (EGCO) in expanding into renewable power projects as the government promotes the use of clean energy to cut reliance on natural gas. Thailand and Malaysia are among nations offering favorable project returns because of “generous” subsidies for renewable energy, Bloomberg New Energy Finance said in a February report.

“Wind and solar power industry in Thailand will continue its stellar growth with the government’s supporting policies,” Sopacha said in an interview yesterday. “Falling costs of renewable energy power equipment have also encouraged Thailand and neighboring countries to accelerate development of this facility… Read more

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