Gulf, Mitsui and Tokyo Gas Engineering Solutions announce the joint
agreements to invest in the urban district cooling and power distribution business for One Bangkok
Publish on January 10, 2020
Gulf Energy Development Public Company Limited or GULF in
collaboration with Mitsui & Co. (Mitsui), Tokyo Gas Engineering Solutions Corporation (TGES), entered
into shareholder agreements and utility development agreement to invest in district cooling system and
power distribution businesses to supply a global landmark development in the heart of the city, One
Bangkok, for 30 years. The total investment value is estimated to be THB 3.57 billion.
As part of the agreement, GULF, TGES and Mitsui have jointly invested in Bangkok Smart Energy Company
Limited (“BSE”). BSE and One Bangkok also jointly invest in Bangkok Smart DCS Company Limited (“BSD”)
for district cooling with installed capacity of approximately 36,000 refrigeration tons and Bangkok
Smart Power Company Limited (“BSP”) for power distribution with installed capacity of approximately 240
One Bangkok is a THB 120 billion fully-integrated district located
on a 16.7-hectare (104-rai) plot at the corner of Wireless Road and Rama IV Road. One Bangkok is
expected to open in 2023, with full completion slated for 2026.