GULF’s gas-fired Independent Power Producer (“IPP”)
projects generate and sell electricity to EGAT under a 25-year Power Purchase Agreement (“PPA”), while
its gas-fired Small Power Producer (“SPP”) projects sell 70% - 80% of the electricity they generate to
EGAT under a 25-year PPA. The PPAs begin when a project achieves commercial operation.
Electricity sold to EGAT is distributed through EGAT’s country-wide transmission network from where it
is then sold to PEA and MEA who then distribute it to consumers across Thailand. GULF’s SPPs also sell
electricity, steam and chilled water to industrial users.
In Thailand, GULF currently has 21 gas-fired power projects in operation, with another 4 gas-fired IPPs
in development. Overseas, GULF is developing a captive gas-fired power project in the Duqm Special
Economic Zone in Oman.