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ENERGY
YUTHANA PRAIWAN
The local power generator manufacturer Gunkul Engineering (GKE) plans to invest one billion baht next year to develop its own wind power plant and to establish production of wind-turbine generators to meet the country's growing appetite for renewable energy.
Managing director Gunkul Dhumrongpiyawut said the company expected to raise funds through an initial public offering on the Stock Exchange of Thailand in the fourth quarter next year and has appointed BFIT Securities as its financial adviser.
While few Thai firms currently manufacture wind-power equipment, GKE is basing its investment on forecasts of rising demand for renewable energy in Thailand. It expects two billion baht in sales this year, equalling its performance last year.
''Thailand's wind power has high potential now that the Energy Ministry has provided heavy support through the adder programme,'' said Mr Gunkul.
The adder is a state scheme that gives renewable power plant operators 3.50 baht on top of the average price of 2.50 baht per kilowatt paid by the Electricity Generating Authority of Thailand (Egat).
GKE has also received an incentive from the Board of Investment for producing its 20-kilowatt wind-turbine generators, which are used by power plants to generate electricity. Mr Gunkul said the company is now seeking a strategic partner with the know-how to help it develop larger 80-kilowatt products.
He added that the company is also waiting for approval for a Very Small Power Producer licence from the Energy Ministry to produce its own power from wind-turbine generators.
''We are now focusing on local administrations in remote areas either as business partners or equipment buyers,'' he said.
Yesterday, Egat agreed to buy two 2.5-megawatt wind-turbine generators from GKE for a total of 145 million baht.
The equipment is due to be delivered by the end of this year for a plant in Lam Takong, Nakhon Ratchasima, which is scheduled to start operating in January.
The company is also waiting to see the outcome of a bid for a 250-kilowatt wind turbine generator contract opened by the Provincial Electricity Authority.
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