Gulf Energy buys 35% of power operator Burapa Power Holding in Chachoengsao
540MW Chachoengsao plant scheduled to start operating in 2027
Gulf Energy Development Plc has announced the acquisition of a 35% stake in Burapa Power Holding Co (BPH), which operates the Burapa power plant in Chachoengsao, Thailand.
BPH is a subsidiary of National Power Supply Plc (NPS) and a holding company of Burapa Power Generation. The Burapa plant has a planned generating capacity of 540 megawatts.
Yupapin Wangviwat, Gulf’s executive director, said the company acquired 12.075 million shares from NPS at 10 baht each for a total value of 120.75 million baht.
“The joint investment with NPS will support the national energy policy, while Gulf has experience and expertise in independent power producer (IPP) business to help develop the Burapa power project at a low project cost and to operate more efficiently,” she said.
“As well, the investment will bolster growth in line with Gulf’s policy to expand its power generation capacity.”
BPH entered into a 25-year power purchase agreement last July with the Electricity Generating Authority of Thailand. In August, it entered into a 25-year gas sales agreement with PTT Plc.
The combined-cycle Burapa power plant uses natural gas as fuel. It is in the process of preparing an environmental impact assessment report.
Commercial operations of Burapa are expected to begin in 2027.