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Gulf acquires hydropower project in Laos for $128m
Bangkok Post
|July 24, 2025
SET-listed Gulf Development, a telecom operator and Thailand's largest energy company by market value, has purchased the entire shareholding of the Pak Lay hydropower project in Laos for US$128 million to boost its renewable power generation and revenue by supplying electricity to Thailand.
The company earlier invested in the project by holding a 40% stake in Pak Lay Power Co, a joint venture, with 60% of the investment funded by Sinohydro (Hong Kong) Holding Co.
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