Gulf Energy Development stock reports a 49.10 percent YTD gain
Published on 09/23/2026 at 23:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Gulf Energy Development stock stood at THB 62.25 on the SET on September 23, 2026, up 49.10 percent since January 1. The company is expanding its renewable portfolio after four wind projects signed 25-year power purchase agreements with Thailand's Electricity Generating Authority on September 7, 2026, as Kaohoon International reported.
Wind portfolio reaches 1,058.5 MW
The four projects have combined contracted capacity of 346.5 MW and are scheduled to begin commercial operations between 2029 and 2030. They add to 14 Thai wind projects with signed agreements and total contracted capacity of 1,058.5 MW, giving Gulf Development a long-dated pipeline in addition to its gas-fired generation assets.
The September 7 agreements cover 90 MW projects from Blue Sky Wind Power 36, 52 and 39, plus a 76.5 MW project from Blue Sky Wind Power 3. The company also operates across power, consulting, infrastructure, and satellite and digital businesses, according to its company profile on MarketScreener.
Revenue rises while profit mix changes
Gulf Development generated Q2 2026 revenue of THB 50,294 million, up 23.8 percent from the prior year and 28.8 percent from the previous quarter. EBITDA reached THB 18,997 million, an increase of 41.4 percent year over year and 17.7 percent quarter over quarter, according to Quartr.
For the first six months of 2026, consolidated revenue reached THB 82,116 million, compared with THB 38,518 million a year earlier. Six-month consolidated net profit was THB 23,994 million, down from THB 65,485 million, while profit attributable to the parent stood at THB 12,332 million. The contrast places more weight on operating expansion and project timing than on headline profit growth alone.
Stock gains 49.10 percent this year
Gulf Energy Development stock had a market capitalization of THB 930,004,895,705 on September 23, 2026. The THB 62.25 SET price was 9.12 percent below the 52-week high of THB 68.50 and 56.60 percent above the 52-week low of THB 39.75, keeping the year's gain closely tied to the company's expanding project base.
Gulf Energy Development at a glance
- Company: Gulf Development Public Company Limited
- Ticker: GULF
- Trading venue: SET
- Price as of September 23, 2026: THB 62.25
- Market capitalization: THB 930,004,895,705 as of September 23, 2026
- 52-week range: THB 39.75-68.50 as of September 23, 2026
- Sector / Industry: Utilities / Electric Utilities
