Gulf Energy sees potential in Thailand's clean energy transition
Gulf Energy Development Pcl has highlighted Thailand's potential for growth in clean energy and its role in enhancing the country's energy security, its chief asset management and investment officer, Smith Banomyong, said on Monday.
He delivered this perspective and outlined the company's vision at the "ASEAN Economic Outlook 2025" seminar, organised by Krungthep Turakij to celebrate its 37th anniversary.
Despite Thailand's relatively modest 2% economic growth compared with regional powerhouses like Vietnam, Banomyong highlighted significant opportunities in the kingdom's service sector.
"Increased clean energy generation must occur in parallel with investment in energy storage systems to help increase the stability of the country's energy system," Smith emphasised, underscoring Gulf's commitment to sustainable power generation.
Currently, clean energy accounts for 15-20% of Thailand's electricity production, around 16,000 megawatts. This positions Thailand favourably against other ASEAN nations such as Indonesia, where coal still generates 50% of electricity. Thailand's reliance on natural gas as a cleaner fuel source represents a strategic advantage in the region's energy landscape.
Beyond energy, Gulf is diversifying its portfolio into telecommunications and digital infrastructure. The company has partnered with Google to invest in cloud computing and data centres in Thailand, anticipating substantial growth in these sectors.
"We recognise AI [artificial intelligence] as the catalyst of the Third Industrial Revolution," Smith said. "As AI capabilities expand, the demand for robust data infrastructure becomes critical. Our investments in cloud and data centres position us to capitalise on this transformation."
The company sees particular promise in sectors where Thailand holds a competitive edge, such as tourism, medical services, health care, financial services and retail.
These sectors, particularly those involving human interaction, are viewed as resilient to AI disruption while benefiting from technological advancement.
Gulf's strategy appears to be two-pronged: strengthening Thailand's energy security through clean power generation and storage, while simultaneously building the digital infrastructure necessary for an AI-driven future.
This approach aligns with Thailand's broader economic goals and its ambition to remain competitive in an increasingly technology-dependent ASEAN region.
As Thailand navigates its economic trajectory, Gulf Energy's investments in both clean energy and digital infrastructure may prove crucial in securing the kingdom's position as a regional leader in sustainable, technology-driven growth.
