GUNKUL sees a bright outlook for the second half of the year, benefiting from solar farms in Vietnam, wind energy, and robust EPC work. The company is set to continue bidding for new projects to enhance its performance and ensure stable growth for the group.

Ms. Sophacha Damrongpiyawut, CEO of Gunkul Engineering Public Company Limited (GUNKUL), stated that the overall business outlook for the company in the second half is expected to outperform the first half, as it will recognize revenue from two power plant projects in Vietnam with a total capacity of 60 megawatts. Additionally, this period coincides with the high season for wind power projects.

Meanwhile, the EPC construction business is believed to have significant growth potential, as projects are being gradually acquired. Currently, there is a backlog of approximately 8 billion baht in sales awaiting revenue recognition, which will continue until 2022.

The company believes that the renewable energy sector will continue to grow both domestically and internationally. The group is actively participating in new project bids, particularly for solar power plants abroad, currently in negotiations with partners, expecting to finalize at least one project within this year. They are also bidding for various government projects, as the government plans to accelerate the expansion of electricity-related businesses worth over 600 billion baht within the next 10 years, ensuring strong revenue and net profit growth this year, with a target of no less than 15% growth.

The company will launch Gunkul Spectrum to engage in energy innovation, having developed businesses related to energy due to rapid technological advancements and decreasing energy costs. With over 38 years in the industry, GUNKUL views energy as essential and believes there is significant potential for expansion, anticipating that the energy industry will not remain the same in the future.

In the third quarter of 2020, the company is preparing for the commercial operation date (COD) of a solar power plant in Malaysia with a total capacity of 30 megawatts, of which about 21 megawatts will be recognized based on its shareholding, contributing to continuous revenue from electricity sales.

Regarding the progress of projects in Myanmar, there are 30 solar power plant projects open for bidding, totaling 1,000 megawatts. The company is preparing to secure land for four projects with a total capacity of around 150 megawatts, aiming to secure at least two projects, with clarity expected within the next 1-2 months.