Gulf Energy Development stock reports 346.5 MW wind PPAs
Published on 09/24/2026 at 05:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Gulf Energy Development stock reports a new 346.5 MW wind portfolio expansion as the shares traded at THB 61.75 on the SET on September 24, 2026. The company signed 25-year power purchase agreements for four projects with EGAT on September 7, 2026, according to Kaohoon International.
Wind capacity reaches 1,058.5 MW
The four projects add 346.5 MW to a wider portfolio that includes 14 Thai wind projects with combined contracted capacity of 1,058.5 MW. Commercial operations for the four newly contracted projects are scheduled between 2029 and 2030, while the fixed tariff is THB 3.1014 per kilowatt-hour throughout each 25-year agreement.
Gulf Renewable Energy holds a 50.0 percent stake in the Blue Sky Wind Power holding company behind the projects. That structure gives Gulf Energy Development exposure to additional renewable capacity while keeping the near-term earnings effect tied to project construction and future commercial operation dates.
Q2 revenue rises 23.8 percent
The operating backdrop was also stronger in Q2 2026. Total revenue reached THB 50,294 million, up 23.8 percent year over year and 28.8 percent from Q1, while EBITDA rose 41.4 percent year over year to THB 18,997 million, according to Quartr.
For the first six months of 2026, consolidated revenue totaled THB 82,116 million versus THB 38,518 million a year earlier. Net profit for the period was THB 23,994 million, compared with THB 65,485 million in the prior-year period, while profit attributable to the parent stood at THB 12,332 million.
Stock remains below yearly high
Gulf Energy Development stock was trading at THB 61.75 on the SET at 10:07 a.m. ICT on September 24, 2026, down THB 0.50 or 0.80 percent. The 52-week range was THB 39.75 to THB 68.50, placing the latest price THB 6.75 below the yearly high.
Gulf Energy Development at a glance
- Company: Gulf Energy Development Public Company Limited
- Ticker: GULF
- Trading venue: SET
- Price: THB 61.75 as of September 24, 2026, 10:07 a.m. ICT
- Market capitalization: THB 922,534,976,864 as of September 24, 2026
- 52-week range: THB 39.75-68.50 as of September 24, 2026
- Sector / Industry: Utilities / Independent Power Producers
