Gulf Development () it is a

public limited company A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth of Nations, Commonwealth jurisdictions, and Republic of Ireland, Ireland. It is a limited liability co ...

in the form of a

Holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

, engaged in three main business groups: energy business, infrastructure and utilities business, and digital business. Gulf was incorporated as Gulf Energy Development Public Company Limited on August 19, 2011, expanding its business from Gulf Electric Company Limited (now Generating Electric Public Company Limited) and Gulf Holding Company Limited (now Land and Property Development Company Limited) and listed on the

Stock Exchange of Thailand The Stock Exchange of Thailand (, ; SET) has been the sole stock exchange operator in Thailand since its establishment on 30 April 1975. As of 8 April 2025, with a market capitalization of US$380.19 billion (excluding mai) at an exchange rate ...

in 2017. Then in 2021, invested in

Intouch Holdings Intouch Holdings PCL (; formerly Shin Corporation) is a Thai holding company which focuses on the telecommunication industry. It is the parent company of Advanced Info Service (AIS), the largest mobile phone operator in Thailand, and Thaicom ( ...

Public Company Limited before merging into Gulf Development on April 1, 2025. Gulf has Gulf VTP Co., Ltd. as its core company and also has other subsidiaries such as Gulf MP Co., Ltd., Independent Power Development Co., Ltd. and Gulf Solar Co., Ltd. There is also a Japanese joint venture company called Gulf JP Co., Ltd. If all subsidiaries are combined, there are 28 power plant projects with a total installed power generation capacity of 11,215.6 megawatts, making it the third largest power producer in the country (as of 2018).

History

Gulf Electric and Gulf Holdings

Gulf Energy Development has its origins since 1990 when the government of

General A general officer is an Officer (armed forces), officer of high rank in the army, armies, and in some nations' air force, air and space forces, marines or naval infantry. In some usages, the term "general officer" refers to a rank above colone ...

Chatichai Choonhavan Chatichai Choonhavan (; , ; 5 April 1920 – 6 May 1998) was a Thai army officer, diplomat and politician. From 1986 to 1991, he was the chairman of the Thai Nation Party and served as the Prime Minister of Thailand from August 1988 until the 1 ...

at that time had a policy to reform the energy industry by changing from the original

Electricity Generating Authority of Thailand The Electricity Generating Authority of Thailand (EGAT) (; ) is a state enterprise, managed by the Ministry of Energy, responsible for electric power generation and transmission as well as bulk electric energy sales in Thailand. EGAT, establish ...

that would build power plants and distribute all electricity by itself to opening up for the private sector to participate in bidding to build power plants for EGAT to purchase electricity from both large independent power producers and small power producers so that the public would have sufficient electricity at a low cost to the government.

References

{{reflist Companies listed on the Stock Exchange of Thailand Holding companies of Thailand Thai companies established in 2011 Energy companies 2021 mergers and acquisitions 2025 mergers and acquisitions