Thailand’s Gulf Energy Acquires 50% Stake in German Wind Farm

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Gulf Energy Development PCL,Thailand’s second-largest power producer stated that it acquired a 50 % in a German offshore wind farm for about 558 million euros.

Gulf Energy stated that acquiring the stake of the Borkum Riffgrund 2 Offshore Wind Farm was in line with the company’s strategy to expand its renewable energy business.The project has total capacity of 464.8 megawatts (MW),

The Thai company earlier this year had purchased a 100-MW wind project in Vietnam and also increased its stake in a gas-fired power plant project in Oman.

Denmark-based power company Orsted A/S acquired the remaining stake in Borkum Riffgrund 2 Offshore Wind Farm Project.

As of 2019 Thailand has 1.5 GW of onshore wind installed. The country has the onshore technical potential of 13-17 GW. The Thai wind power industry is confident it can deliver wind projects at below three baht per kWh. According to a research study by King Mongkut’s University of Technology Thonburi the cost of wind energy production in Thailand ranges from about 2-6 baht/kWh, but in some unsuitable areas the cost can be as high as 11 baht/kWh. When compared to the cost of production in Denmark at about 45 øre (about 2.36 baht) /kWh, Thailand’s cost is relatively higher.

Wind power in Thailand amounted to an installed production capacity of 224.5 MW as of the end of 2014.It installed capacity was 112 MW at the end of 2012, with 111 MW added in 2013, and a minor amount added in 2014. Thailand’s natural gas reserves are projected to run out in 2021, and Thailand began importing expensive liquefied natural gas in 2011. These factors have led to increased demand for renewable energy, and Thailand’s Alternative Energy Development Plan (AEDP) in 2011 called for 25 percent of its energy to come from renewable sources by 2036.

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