GULF is the first private sector company to import LNG starting in Feb. 2024, targeting this year's revenue to increase 25-30% from 2023 with an income of 116,951 million baht, moving forward with the Virtual Bank and digital assets business. Ms. Yupapin Wangwiwat, Deputy Chief Executive Officer and Chief Financial Officer of GULF, revealed that total revenue in 2024 is expected to grow approximately 25 - 30% from 2023 from the opening of commercial operations of the GPD natural gas power plant project. 3 and 4, which have a total installed power capacity of 1,325 megawatts, scheduled to start selling electricity in March and October 2024, respectively, including the opening of commercial operations of the Hin Kong Natural Gas Power Plant Unit 1 project, which It has an installed power generation capacity of 770 megawatts, which is scheduled to start selling electricity in March 2024. At the end of February, GULF will import liquefied natural gas (LNG) to be used in the production of electricity at the Hin Kong Power Plant Unit. 1 which is considered the first private sector in Thailand to import LNG into the country. This import of LNG is in line with the country's natural gas procurement plan. This will help reduce the risk in sourcing natural gas. and increasing energy security for the country as well In addition, the GULF1 ??Group's Solar Rooftop project will gradually open for operation with an additional 120 megawatts this year. Solar Farms and ground-mounted solar power projects combined with energy storage systems ( Solar Farms With Battery Energy Storage Systems (Solar BESS) within the country has plans to gradually open for commercial operation another 5 projects by the end of 2024, with a total installed capacity of 532 megawatts. In 2023, the company has invested Name in the power purchase agreement with Electricity Generating Authority of Thailand (EGAT) to develop and operate Solar Farms and Solar BESS projects, totaling 24 projects, 2,396 megawatts, scheduled to open for commercial operation bet ween 2024 - 2029, and signed a power purchase agreement with Provincial Electricity Authority (PEA) to develop 2 industrial waste power plants with a total installed capacity of 20 megawatts, both of which are scheduled to open for commercial operation in 2026. Currently, GULF has an installed power generation capacity from renewable energy that is in operation and under development of 8,211 megawatts and is ready to expand the power production capacity from renewable energy to an additional no less than 3,000 megawatts in order to achieve. The goal is to increase the proportion of renewable energy to no less than 40% of the total production capacity by 2035. As for the progress of the project under the digital business, it remains as planned. The digital asset trading center business (Digital Asset Exchange) under the Binance TH by Gulf Binance platform has opened full service for general users on January 16, 2024, targeting market share at Approximately 30% in 2024, while the Data Center business is under construction and plans to open the first phase of service in the first quarter of 2025, amounting to 20 megawatts, for the branchless commercial banking business (Virtual Bank) GULF. There is a joint venture plan with partners who have both channels. Customer base and information It will use technology to help operate and create new forms of financial services. with lower costs This will help reduce service costs. To reach customers outside the commercial banking system and will result in Virtual Bank's growth in the future. For operating results, GULF realized Core Profit in 2023 in the amount of 15,644 million baht, growing 29% compared to 2022, with total revenue of 116,951 million baht, an increase of 23%, and operating profit (Core Profit). ) is at 15,644 million baht, an increase of 29%. -511-Thai News Agency Source: Thai News Agency
