Gunkul Engineering (Thailand) and its subsidiary Bright Green Power have announced the acquisition of the 50 M...
Gunkul Engineering (Thailand) and its subsidiary Bright Green Power have announced the acquisition of the 50 MW Tan Chau solar power project (Tay Ninh province). The investment worth more than USD 47 million.
According to Gunkul, on August 31, 2020, the total asset value of Tan Chau was recorded at VND 794 billion. This company has long-term debt is VND 628 billion, equivalent to a ratio of 79%. Tan Chau's shareholders contributed VND 169 billion, the project's temporary loss was VND 166 billion.
Gunkul is planning to expand its energy operations in the Southeast Asian market, the Thai company believes that this is a potential business with low risks. On the other hand, projects can bring Gunkul stable income in the long term.
Gunkul is a Thai company specializing in the manufacture and allotting electrical infrastructure equipment, they also produce and distribute electricity from renewable sources, and are construction and installation contractors.
In the first 9 months of this year, Gunkul achieved net revenue of about THB 6.8 billion (about more than VND 5,200 billion), electricity sales alone accounted for about 43%.
The appearance of Tri Viet 1 and Bach Khoa A Chau 1 since the beginning of the year has significantly improved Gunkul's overseas electricity sales, total revenue reaching THB 874 million (VND 672 billion), up 36% compared to same period.
Gunkul is the remarkable company in the list of Thai businesses entering the Vietnam renewable energy industry, the government is offering attractive incentives to stimulate investors. Most of the units used acquisitions to avoid legal procedures obstructing foreign investors. Some other names can be mentioned as Super Energy, Gulf, B.Grimm.
Via CafeF