Gunkul Engineering Secures PPAs for 180 MW Wind Projects under Thailand’s FiT Scheme

Thailand-based Gunkul Engineering PCL (BKK:GUNKUL) has signed two additional power purchase agreements (PPAs) totaling 180 MW for wind energy projects, as part of the country’s 2022–2030 Feed-in Tariff (FiT) renewable energy program.

According to the company’s stock exchange filing on Monday, the agreements—each covering a 90-MW wind project—were signed on July 25 with the Electricity Generating Authority of Thailand (EGAT). These projects were among those selected in the April 5, 2023 announcement.

Each PPA spans 25 years and offers a fixed FiT rate of THB 3.1014 per kWh (approximately USD 0.094 or EUR 0.083).

With this signing, Gunkul has now secured PPAs for 17 renewable energy projects with a combined capacity of 832.4 MW. This includes 180 MW of wind, 568.8 MW of solar, and 83.6 MW of solar-plus-storage. The projects are scheduled to enter commercial operation starting in 2026.