Gunkul Invests in Wind Power

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Thursday, October 09, 2008

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Gunkul Invests in Wind Power

THAILAND - Power generator and engineering company Gunkul Engineering (GKE) is to invest 1 billion baht to develop its own wind power plant.

Managing director Gunkul Dhumrongpiyawut told the Bangkok Post the company expected to raise funds through an initial public offering on the Stock Exchange of Thailand in the fourth quarter next year.

GKE said it is basing its investment on forecasts of rising demand for renewable energy in Thailand and expects 2 billion baht in sales this year, equalling its performance last year.

"Thailand's wind power has high potential now that the Energy Ministry has provided heavy support through the adder programme," Mr Gunkul told the Bangkok Post.

The adder programme is a state scheme that gives renewable power plant operators 3.50 baht on top of the average price of 2.50 baht per kilowatt paid by the Electricity Generating Authority of Thailand (Egat).

GKE has also received an incentive from the Board of Investment for producing its 20-kilowatt wind-turbine generators, which are used by power plants to generate electricity.

TheBioenergySite News Desk