GULF Strengthens Renewables Push with Strategic Sungrow Partnership for Battery Energy Storage Systems and PV Inverter Supply

Gulf Energy Development Plc. (GULF), has secured a strategic partnership with Sungrow Power Supply Co., Ltd. (Sungrow), a global leader in solar inverters and energy storage systems. Through a Master Supply Agreement (MSA), Sungrow will provide battery energy storage systems (BESS) and solar inverter systems (PV Inverters) for the development of solar farm projects by Gulf Group and its subsidiaries. These projects will total 3,500 MWp in installed capacity and are expected to begin commercial operations progressively from 2024 through 2030.

This MSA was signed between Gulf Engineering Services Company Limited (GULF’s wholly-owned subsidiary), and Sungrow to supply a battery energy storage system and solar inverter systems for solar farms, solar farms with battery energy storage systems, and solar rooftops of Gulf Group and its subsidiaries, with a total installed capacity of 3,500 MWp. Mr. Sarath Ratanavadi, Chief Executive Officer, GULF and Mr. Cao Renxian, Chairman of the Board, Sungrow, as signatories along with Mrs. Porntipa Chinvetkitvanit, Deputy Chief Executive Officer and President of GULF, together with, Mr. Xu Yuezhi, APAC Manager at Sungrow, were present to witness the signing ceremony.

This collaboration reflects the commitment of both GULF and Sungrow to drive the growth of the renewable energy sector, which aligns perfectly with GULF’s strategy of partnering with reputable, industry-leading suppliers to ensure the highest quality and efficiency in their energy storage and inverter systems. With over 27 years of experience in the industry, Sungrow is renowned for its unparalleled expertise in the international solar inverter and battery energy storage system market, holding the distinction of being of the world’s largest supplier of solar inverters by volume among Tier 1 suppliers, with an impressive 405 gigawatts of installed capacity across 170 countries, including major markets like the United States, Germany, India, and Spain. In addition, GULF views this approach as a tactical enhancement to its business operations. By procuring products in large quantities, the company leverages economies of scale, which facilitates a more effective cost control and optimizes operational efficiency. This systematic procurement method not only reduces per-unit costs but also aligns with the broader financial and operational prudence, contributing to the company’s and its subsidiaries’ competitive advantage in Thailand’s renewable energy sector.