Thailand’s Clean Energy Drive Gets Boost as Gulf Energy Surpasses 2030 Renewable Target

Thailand’s ambition to become a regional leader in renewable energy received a significant boost as Gulf Energy Development PCL — the country’s top-ranked energy company by market value — announced it has already achieved its 2030 renewable energy target, five years ahead of schedule.

The company’s move is seen as a crucial step in supporting Thailand’s Power Development Plan (PDP) and the national goal of reducing reliance on fossil fuels. With a newly secured 40% share of total electricity capacity in renewable sources, Gulf is now positioned as a central player in Thailand’s clean energy transformation.

This progress stems from Gulf’s latest investment through its subsidiary Gulf Renewable Energy Co., which acquired 50% stakes in two Gunkul Engineering affiliates: Gunkul Solar Powergen Co. and Gunkul One Energy 2 Co. The 704 million baht deal paves the way for the development of nine new solar farms, collectively adding 461 MW of clean power to the grid.

These projects were awarded under the Energy Regulatory Commission’s 5.3 GW renewable energy auction and will supply electricity to the Electricity Generating Authority of Thailand (Egat) for a period of 25 years. Scheduled to become operational between 2026 and 2030, these projects mark a strong alignment with Thailand’s national energy decentralization and climate goals.

“Including the newly signed solar projects, our renewable capacity now hits 40%, well ahead of our original 2030 timeline,” said Yupapin Wangviwat, Chief Financial Officer of Gulf. She emphasized that while only 10% of Gulf’s current operational output is renewable, the future pipeline solidifies the company’s commitment to sustainable energy.

Beyond energy generation, Gulf is also advancing digital infrastructure, announcing the development of a 25MW data center, expected to launch in mid-2025. The facility will be powered, in part, by clean energy — reinforcing the synergy between digital growth and green power.

Yet, Gulf’s leadership acknowledges the risks posed by global economic volatility and geopolitical tensions, which could dampen investment appetite. CEO Sarath Ratanavadi emphasized a cautious approach to capital deployment amid shifting macroeconomic conditions.

Still, Gulf’s early milestone is a strong signal of momentum in Thailand’s energy landscape — suggesting that public-private collaboration and strategic capital deployment can fast-track national sustainability goals.