Thailand’s Gulf Energy Development Pcl has acquired a 50 per cent stake in a German offshore wind farm for Euro 558 million ($631.10 million).
According to Gulf Energy, acquiring the stake of the Borkum Riffgrund 2 offshore wind farm (BKR2 Project), which has an installed capacity of 464.8 MW, was in line with the company’s strategy to expand its renewable energy business. Earlier in 2020, the Thai company had purchased a 100 MW wind project in Vietnam and also increased its stake in a gas-fired power plant infrastructure project in Oman.