GULF teams up with IEAT and PEA ENCOM for the joint study and investment in a power business in Samut Sakorn Industrial Estate

Gulf Energy Development Public Company Limited (GULF) has signed a Memorandum of Understanding (MoU) with the Industrial Estate Authority of Thailand (IEAT) and PEA ENCOM International Co. Ltd. (PEA ENCOM) for a joint study and investment in a power business in Samut Sakorn Industrial Estate. The purpose is to jointly develop an independent power supply (IPS), microgrid and smart metering systems as well as an energy platform to serve the higher electricity demand of industrial customers. The MoU will be valid for a period of two years.

Mr. Veeris Ammarapala, Governor, IEAT, stated after the signing ceremony: “The mission of the IEAT is to acquire land and develop it into an industrial estate by providing utility services and facilities that accommodate business operations for the industrial and service sectors. The power system is considered the main factor in running the business along with other economic-related activities. This cooperation is to strengthen the stability of the power system in Samut Sakhon Industrial Estate and enhance confidence for operators and investors. Hopefully, the results of the study will turn out well and help optimize the power system of the industrial estate, which will subsequently drive the country’s economy, trade and investment.”

Ms. Porntipa Chinvetkitvanit, Deputy Chief Executive Officer, GULF, said: “GULF is honored to be a trusted business partner of both the IEAT and PEA ENCOM in collaborating on this feasibility study for energy business development in Samut Sakhon Industrial Estate. This joint endeavor is in line with our company’s business direction as we are always on the lookout for new business opportunities. GULF is equipped with technology and investment funding plus a well-established and a globally-connected network with leading energy technology suppliers. GULF is ready to invest in energy innovations including renewable energy and the digital energy business to help strengthen the country’s energy security and drive towards the future of energy transition. We hope that this cooperation will be effective in meeting the electricity demand of the industrial sector and will support the sector striving forward.”

Mr. Khemmarat Sartpreecha, Acting Managing Director, PEA ENCOM, said: “PEA ENCOM is very pleased to have the opportunity to be a part of this feasibility study, jointly investing in a power business with the IEAT and GULF. The joint study and development of power plant is key infrastructure and an important factor in response to the growth of Thailand’s industrial sector. It will also boost industrial customers’ confidence as the strength and cooperation between partners will strengthen the stability of the electricity supply. The feasibility study on an IPS, microgrid, and smart metering as well as an energy platform will definitely transform the energy industry of the future as we move forward into the era of smart energy. PEA ENCOM hopes that this collaboration will lead the way for other business partnerships in the future.”