Who We Are

May

The Company paid cash dividend for the year ending December 31, 2022 at the rate of 0.06 Baht per share in a total amount of no more than 535,000,000.00 Baht on May 18, 2023.

November

• The Company approved the Share Repurchase Program for Financial Management No. 3 with details as follow:

  • Maximum amount for the share repurchase

    Not exceeding 1,120,000,000.00 Baht

  • Number of shares repurchase

    Not exceeding 380,000,000 Shares

    (Calculated as no more than 4.28 of the issued and paid-up capital)

  • Procedure used for the repurchasing of shares

    On the Stock Exchange of Thailand

  • The repurchase period

    November 16, 2023 to May 15, 2024

• The Company paid cash dividend for the nine-month performance from January 1, 2023 to September 30, 2023 at the rate of 0.06 Baht per share in a total amount of no more than 535,000,000.00 Baht on December 6, 2023.

December

A group of subsidiaries, which are Gunkul Solar Powergen Co., Ltd., Gunkul One Energy 2 Co., Ltd., and Gunkul One Energy 9 Co., Ltd. have entered into 25-year Power Purchase Agreements with the Electricity Generating Authority of Thailand for the development of a total of 8 solar farm projects with a total contracted capacity of 429.6 megawatt. The schedule for commercial operation is between 2026 to 2030.

July

The Company offered and issued ordinary shares of Gulf Gunkul Corporation Company Limited totaling 11,170,000 shares by waiving the rights to subscribe for ordinary shares and let Gulf Renewable Energy Company Limited, as a strategic partner, to purchase 50% of newly issued ordinary shares with investment value of 5,000,000,000.00 baht. Another 50% of shares is held by the Company.

December

The Company paid interim dividend for the 9-month performance from January 1, 2022 - September 30, 2022 on December 8, 2022. Such interim dividend was paid in cash at the rate of 0.06 baht per share. The total cash dividend payment was no more than 535,000,000.00 baht.

March

TRIS Rating Company Limited has upgraded the corporate credit to the Company from BBB level to BBB+ level, and raising the rating of the unsubordinated, unsecured bonds from BBB- level to BBB level.

April

The Company approved the hemp business plan and the establishment of a Company to support such business operation. The establishment of the Company will be held in the form of a holding company, with an initial registered capital of THB 50,000,000.00 and 2 subsidiaries.

May

The Company paid cash dividends for the year ended December 31, 2020 at the rate of 0.182 baht per share on May 24, 2021. The total cash dividend payment was not more than THB 1,600,000,000.00

July

Future Energy Corporation Co., Ltd. (“FE”), the Company’s subsidiary, jointly established a joint venture company with Origin Energy Co., Ltd., a subsidiary of Origin Property Public Co., Ltd. (“ORI”), with a registered capital of THB 1,000,000.00 to jointly develop and invest in projects to sell electricity from solar rooftop, EV charger, and parity energy trading in condominiums and villages that Origin Energy andor its associated that are developers, construction, and management companies.

September

The Company paid interim dividend for the half-year performance from January 1, 2021, to June 30, 2021. Such interim dividend was paid in cash at the rate of 0.06 baht per share on September 9, 2021. The total cash dividend payment was not more than THB 535,000,000.00

February

On February 4, 2020

Bright Green Power Co., Ltd., a subsidiary of the Company has entered into a transaction to invest in 2 solar power projects with a total size of 60 MW, namely Tri Viet 1 Solar Power Plant Project and Bach Khoa A Chau 1 Solar Power Plant Project ("the Projects"), located in Tay Ninh Province, Vietnam by acquiring all ordinary shares of Singapore An Yang Pte. Ltd. ("An Yang") and Singapore Yun Yang Pte. Ltd. ("Yun Yang"), which are the ultimate shareholders of the Projects.

March

On March 17, 2020

The Board of Directors' Meeting of GUNKUL No. 7/2020 passed a resolution to approve the 2^nd Shares Repurchase Project for liquidity management for the maximum benefit of the Company. The maximum amount that used for share repurchase is not more than 1,100 million baht. The number of shares to be repurchased is not more than 440,000,000 shares with the par value of 0.25 baht per share or equal to 5.01% of the issued and paid-up capital after deducting the actual treasury shares in the 1st time which set a period to repurchase the shares from April 1, 2020 to September 30, 2020. The number of shares repurchased by the Company in this time is 0 shares or equivalent to 0% of the total number of sold shares of the Company. The total value of the repurchased shares equal to 0 baht.

April

On April 21, 2020

The Annual General Meeting of Shareholders for the year 2020 resolved to approve as follows:

• Approval of the reduction of the Company's registered capital in the part that cannot be allocated for stock dividend payment according to the resolution of the 2019 Annual General Meeting of Shareholders for the amount of 19,814,818 shares or 4,953,704.50 baht; therefore, from the original listed shares of 8,902,345,792 shares or the existing registered capital 2,225,586,448.00 baht, par value of 0.25 baht per share, to be a new listed stock of 8,882,530,974 shares or equal to THB 2,220,632,743.50, par value THB 0.25, by reducing the registered capital with the Department of Business Development on April 23, 2020
• Approval of the amendment of the Company's objectives and the amendment of Clause 3 of the Company's Memorandum of Association to be in line with the amendment of the Company's objectives by amending item (2) and adding item (64) - item (83) and amendment to Clause 3 of the Company's Memorandum of Association.
• Approval of the issuance and offering of the debenture by increasing credit line of 6,000 million baht, from the previous credit line of not exceeding 9,000 million baht to be new credit line of not exceeding 15,000 million baht, maturity is not exceeding 7 years.

September

On September 18, 2020

The Company sold the Utsunomiya solar power plant project in Japan, with a capacity under the PPA of 66.78 MW and according to the installation of 69.83 MW, by selling 100% of GD Solar Utsunomiya Godo Kaisha ("GD Solar") held by (a) Future Asset Management KK ("FAM") (a subsidiary of the Company). (B) Gunkul International (Mauritius) ("GIM") (a subsidiary that the Company holding 100% shares) with the sale value of 5,964,930,000 yen or equivalent to 1,679,921,130.69 baht according to the resolution of the Board of Directors Meeting of GUNKUL No. 5/2019 held on November 6, 2019.

November

On November 25, 2020,

The Company has acquired 100% of Doan Son Thuy Investment JSC Company Limited ("DST") to invest in a solar power plant project with a total capacity of 50 MWp in Hue, the Socialist Republic of Vietnam, with the investment value of USD 39,850,000 or equivalent to 1,258,582,550 baht according to the resolution of the Board of Directors Meeting of GUNKUL No. 5/2020 on July 23, 2020.

December

On December 7, 2020

Bright Green Power Company Limited, a subsidiary of the Company, has acquired 100% of the ordinary shares of INT Energy Pte. Ltd. ("INT") to invest in a solar power plant project, with a total capacity of 50 MWp, in Tay Ninh Province, the Socialist Republic of Vietnam which is held by Tan Chau Energy Joint Stock Company ("TCE") with the investment value of USD 47,140,000 or equivalent to 1,471,097,980 baht according to the resolution of the Board of Directors Meeting of GUNKUL No. 7/2020 on October 9, 2020.

April

On April 1, 2019

Kimitsu Power Plant project which is located in Kimitsu, Chiba Prefecture, Japan, with total capacity of 33.50 MW. (40.41 MW: Installed Capacity). This is a project that produces and sells solar power to TEPCO Energy Partner, Inc. (“TEPCO Energy Partner”) at JPY 36 per unit in feed-in tariff scheme, with 20-year concession period starts from the commercial operation date which has started its commercial operation already.

May

On May 14, 2019

Krungthep Thanakom Co., Ltd. has entered into an agreement with GKE & FEC Joint venture, which is a joint venture between the Company and Future Electric Control Co., Ltd. (“FEC”) (held by Gunkul Power Development Co., Ltd. (“GPD”) which is a subsidiary company of the Company. The joint venture is constructing the underground communication project in Bangkok for area 3, the value of work includes VAT of approximately 5,142 million baht, with a total distance of approximately 605 kilometers.aht.

September

On September 26, 2019

The Company has signed a contract to construct a solar PV Rooftop with Lohakij Rung Chareon Sub Co.,Ltd. with an installed capacity of 4.68 MW.

October

On October 28, 2019

Gunkul Power Development Co., Ltd. (“GPD”), a subsidiary of the Company have signed a contract with Electricity Generating Authority (EGAT) by procuring and installing solar power generation systems (Solar Rooftop), with a total installed capacity of not less than 580 kW and Battery Energy Storage System (BESS) on the EGAT central office area of approximately 300 rai, divided into a building area of approximately 350,000 square meters and an office area of approximately 200,000 square meters, to be a Smart City project in accordance with Energy 4.0 Policy, totaling 48,501,458.44 baht (VAT included).

November

On November 18, 2019

Solar Energy Society Co., Ltd. (“SES”), a subsidiary of the Company has signed a contract for the construction of a solar PV Rooftop with Home Product Center Public Company Limited (HOMEPRO) in order to use in department stores of 18 branches nationwide, a total installed power of 8.29 MW, 15 years contract period.

December

On December 18, 2019

“Consortium GPD & FEC”Joint venture, has signed the confirmation letter with the Provincial Electricity Authority (PEA) for employment and construction at Sikhio 2 Power Station, Nakhon Ratchasima Province and the employment of constructing the Sung Noen Power Station, Nakhon Ratchasima Province and Sisaket 2 Power Station, Sisaket Province, with a total construction contract value of 501,500,000.00 baht.

January

On January 12, 2018

The Company became a shareholder in Kenyir Gunkul Solar Sdn Bhd, Malaysia holding 49% of the ordinary shares and subsequently holding the proportion of investment in preferred shares to receive dividends in the form of dividend at 70%.

March

On March 27, 2018

Greenovation Power Co., Ltd. (“GNP”), a subsidiary of the Company which operates wind power plant business. The Company holding 99.99% of registered and paid-up capital, GNP has operated commercial electricity (“COD”) of the Saranlom Wind Farm Project which is located in Tumbon Huay Bong, Amphur Dan Khuntod, Nakhonrachasima province, with total capacity of 60 MW. These projects are supported by the government through adder at 3.50 baht per KW for 10 years started from the commercial operation date.

April

On April 10, 2018

The Board of Directors of Gunkul Engineering Public Company Limited No. 2/2018 on Tuesday, April 10, 2018 resolved to approve the treasury stock program to maximize benefit from the excess liquidity management of the Company and to signal to investors on the strong financial position of the Company, with the maximum amount that used to repurchase shares not exceeding 1,000 million baht, the maximum amount of repurchased shares not exceeding 300,000,000 shares at a par value of 0.25 baht per share. The number of shares to be repurchased is equal to 4.04% of the total issued shares by specifying the period for the repurchase of shares from April 25, 2018 to October 24, 2018. The totaling repurchased shares in the above program are 93,475,100 shares or 1.26% of the total issued shares of the Company. The total value of all repurchased shares equal to 304,674,256.00 baht.

June

On June 20, 2018

Korat Wind Energy Co., Ltd. (“KWE”), a subsidiary of the Company operates wind power plant business. The Company holds 99.99% of the registered and paid-up capital. KWE has operated commercial electricity (“COD”) of the Mittraphap Wind Farm Project which is located in Nong Nam Sai Sub-district, Sikhiu District, Nakhon Ratchasima province, with total capacity of 50 MW. These projects are supported by the government through adder at 3.50 baht per KW for 10 years started from the commercial operation date.

July

On July 3, 2018

The Company received the installation work of Solar Roof for Charoen Pokphand Foods Public Company Limited or CPF in the form of a power purchase agreement with a project value of approximately 1,400 million baht. The Company will be the investor and the system administrator throughout the contract period of 15 years which will install 120,000 solar panels on the roof of the CPF factories in 34 locations, with a total area of approximately 230,000 square meters or comparable to a 40 MW power plant.

November

On November 1, 2018

Sendai Okura Power Plant project which is located in Sendai Miyagi, Japan with total capacity of 31.75 MW. (38.10 MW: Installed Capacity). This is a project that produces and sells solar power to Tohoku Electric Power Co., Inc. (“Tohoku Electric”) at JPY 36 per unit in feed-in tariff scheme, with 20-year concession period starts from the commercial operation date which has started its commercial operation already.

April

On April 21, 2017

The Annual General Meeting of Shareholders passed a resolution of shareholders to approve details as follows;

• Approved the second adjustment of purchasing right for the exercise of warrant No.1 (GUNKUL-W) by adjusting an Exercise Ratio from 1 Unit: 4.8 Ordinary Share to 1 Unit: 5.6 Ordinary Share and adjusting an Exercise Price from 5.625 baht per share to 4.821 baht per share.
• Approved the capital increment for supporting the dividend payment and second adjusting right of purchasing for the exercise of warrant No.1 (GUNKUL-W) from THB 1,699,685,996.75 to be the new registered capital THB 1,982,967,060.25 at the par value of THB 0.25.
• Approving the issuance and offering of debentures in amount of 3,000,000,000 baht from the original amount not exceeding 6,000,000,000 baht, adjusted to a new limit not exceeding 9,000,000,000 baht, not more than 7 years old.

May

On May 4, 2017

The Company established a subsidiary company, Gunkul Solar Power 6 Co., Ltd. (“GSP-6”) in order to produce and sell electricity from renewable energy to sell to government agencies. The Company held 99.99% of the registered capital of 100,000,000 baht. (Registered for liquidation)

June

On June 7, 2017

The Company signed a Memorandum of Understanding between BG Energy Solution Co., Ltd. and Gunkul Power Development Co., Ltd. to launch the Solar Rooftop project for its own use with the capacity of 4.84 MW at Ayudhya Glass Industries factory.

August

On August 16, 2017

The Company acquired additional 99,999 common shares in Gunkul LED Lighting Co., Ltd. (New mane: Gunkul Energy Solution and Lighting Co., Ltd.) from the existing shareholders or equivalent to 9.99% of the current registered capital, total holding 999,998 shares or equivalent to 99.99% of total shares. (Current registered capital is 100,000,000 baht).

September

On September 30, 2017

is the date on which the remaining warrants to purchase the Company’s ordinary shares No.1 (GUNKUL-W) have been set as listing status termination.

January

On January 21, 2016

The Extraordinary General Meeting Shareholders No.1/2016 passed a resolution to increase the authorized capital of the Company up to 41,500,000 shares valued at par value 1 baht to the Siam Commercial Bank, which is offering a private placement. The price per share was 22.84 baht per share.

April

On April 26, 2016

Annual General Meeting of Shareholders for 2016 resolved to:

• Approve the change of the par value per share of the Company from 1.00 baht per share to be 0.25 baht per share
• Approve an increase in the registered capital of the Company in order to support the stock dividend and to accommodate the exercise of the Warrants. The warrants to purchase the common shares of the Company 1 (GUNKUL-W). After the revaluation of capital stock shares. The new capital total 1,416,405,589 baht changed to 1,699,686,359 baht. Issuing new ordinary shares amount 1,133,123,080 shares at par value of 0.25 baht per share.
• Approve the adjustment of the warrants to purchase common shares of the Company No. 1 (GUNKUL-W). As per the exercise Ratio 1 warrant: 1 common share to 1 unit: 4.8 common share, and the exercise price of 27.00 baht per share to 5.625 baht per share.
• Approve the increase in the amount of issuance and offering of debentures in the amount of 2,000 million baht. Thus, from the original limit not exceeding 1,000 million baht, adjusted to a new limit not exceeding 3,000 million baht, not more than 7 years old.

August

On August 10, 2016

The Company informed the information of the establishment of Gunkul Bio Energy Co., Ltd., to produce raw material for the biomass power plant, the Company held 99.94% of the registered capital of 500,000 baht (Current registered capital of 2,000,000 baht) (October 21, 2019, Gunkul Bio Energy Co., Ltd. changed its name to Gunkul Infinite Group Co., Ltd. in order to support the expansion of the rental, sublease and property management business, production and distribution of electricity from alternative energy or other energy in all respects, including the power plant business for distribution to private and state agencies)

October

On October 12, 2016

The Board of Directors Meeting No. 7/2016 resolved to approve the Company to acquire preferred shares in BMP Solar Co., Ltd. (“BMPS”), which operates the solar power plant business with the capacity of 8.0 MW, at the amount of 48,000 shares, equivalent to 48.98% of the paid-up registered capital, totaling 98,000 shares. (Consisting of 50,000 ordinary shares and 48,000 preferred shares) The Company has the right to receive dividends from operations and voting rights in the proportion of 99.99%. This power plant is located Tha Carter, Watthana Nakhon district, Srakaew Province by receiving the power purchase rate of Feed-in-Tariff (FiT) is 5.66 baht per unit for a period of 5 years. (Current registered capital is 980,100 baht and the Company holding shares in the ratio of 48.98%).

November

On November 29, 2016

The Extraordinary General Meeting of Shareholders No. 2/2016 passed a resolution as details:

• Approved Gunkul International (Mauritius) (“GIM”), a subsidiary of the Company, to entered into an investment in solar power plant projects in East Japan Solar 13 Godo Kaisha (“GK Iwakuni”) Iwakuni City, Yamanguchi Province, Japan. The production capacity of the project under the Power Purchase Agreement is 75.0 MW (installed capacity 90.0 MW), which has received a concession to sell electricity to Chugoku Electric Power for a period of 20 years at the rate of purchase of feed-in Tariff (FiT) 32 yen per unit.
• Approve the increase in the amount of issuance and offering of debentures in the amount of 3,000 million baht. Thus, from the original limit not exceeding 3,000 million baht, adjusted to a new limit not exceeding 6,000 million baht, not more than 7 years old.

February

On February 23, 2015

The Company has purchased the ordinary shares of Korat Wind Energy Co., Ltd. (“KWE”) from Quantitus Engineering Co., Ltd. (“QE”) which engaged in the business of generating electricity from wind energy for distribution to the EGAT of 50 megawatts, at 9,998 shares or equivalent to 99.98% of total registered shares of 10,000 shares. (Current registered capital 1,107,000,000 baht and the Company holding shares in the ratio of 99.99%).

March

On March 9, 2015

Wind Energy Development Co., Ltd. (“WED”), which is the one of the Company’s subsidiaries, has invested in the wind turbine power plant project. WED has signed the contract in PPA in the capacity of 50 MW of wind turbine power plant from Electricity Generating Authority of Thailand (“EGAT”) as well as the capacity of 8+2 MW with 3.50 baht, adder from Provincial Electricity Authority (“PEA”) for the period of 10 years.

June

On June 23, 2015

The Company has informed the information technology of investment in the wind turbine power plant of Greenovation Power Co., Ltd. (“GNP”), with a power purchase agreement between GNP and EGAT. This power plant is situated in Huay Bong Sub-district, Dan Koon Tod District, Nakorn Ratchasima Province with the expected complete construction and commercially distribution within the first quarter of 2017.

August

On August 19, 2015

The Extraordinary General Meeting of Shareholders No. 1/2015 passed the following resolutions:

• Ratified the Company in investing in the capacity of 60 MW wind turbine power plant with Greenovation Power Co., Ltd.
• Ratified the Company in investing in the capacity of 31.75 MW solar cell power plant; Sendai Okura Mega Godo Kaisha (“GK Sendai”) (Changed name into “Sendai Okura GD Daiichi Godo Kaisha”) in Japan
• Approved the Company in purchasing 67% of ordinary shares of Infinite Alternative Energy Co., Ltd. (“IAE”) which is a shareholder of Rang Ngern Solution Co., Ltd. (“RNS”). RNS is the counterparty in the power transaction of the solar cell power plant and the capacity of 87 MW. (Current registered capital of IAE is 1,564,000,000 baht and RNS is 1,355,000,000 baht)
• Approved the Company in investing in the capacity of 33.50 Megawatts (MW) solar cell power plant; Kimitsu Okura Mega Solar Godo Kaishi (“GK Kimitsu”) (Changed name into “Kimitsu Mega Solar Godo Kaisha”) in Japan by production and distribution of electricity from solar power to the Tokyo Electric Power Company (TEPCO) in Japan.
• Approved the Company in acquiring source of investment fund as the capital increase by issuing the newly ordinary share to the Company’s existing shareholders in proportion to their respective shareholding (Right Offering) and issue the warrant certificate to the Company’s existing shareholders who wish to exercise their right in purchasing the ordinary shares of the Company. These newly ordinary shares issuance for Right Offering shall be not more than 274,981,118 shares at the par value of Baht 1 per share. Details are as follows:
  1. Issuing not more than 183,320,745 newly ordinary shares at the par value of 1 baht per share to the existing shareholders of the Company in proportion to their respective shareholding (Right Offering) of 6 existing shares to 1 unit of warrants (disregarding the fraction). The offering price is 22 baht per share. In the event, that there are remaining amount of the newly issued ordinary shares after the issuance to the existing shareholders of the company, the company shall allocate such amount to the shareholders who express their intention in purchasing the newly issued ordinary shares apart from the proportion to their respective shareholding until the full amount is completely allocated, unless the remaining is the fraction which cannot be allocated or no more shareholder expresses personal intention in purchasing the newly issued ordinary shares.
  2. Issuing not more than 91,660,373 newly ordinary shares at the par value of 1 baht per share to the existing shareholders of the Company in proportion to their respective shareholding (Rights Offering) of 2 existing shares to 1 unit of warrants for the exercise of right of GUNKUL-W.

November

On November 4, 2015

The Company informed the information of the establishment of GO Bioenergy Co., Ltd. to conduct electricity business from biomass which the Company holds 74.90% of the shares and Outgrow Energy Consult Co., Ltd. holds 25.10% of the registered capital of 34,300,000 baht. (Current registered capital is 34,300,000 baht)

The above company has acquired 99.99% of the shares in Outgrow A Co., Ltd., Outgrow B Co., Ltd., Outgrow D Co., Ltd., Outgrow E Co., Ltd., Outgrow Wood Supply A Co., Ltd. and Outgrow Wood Supply B Co., Ltd. which are all doing a business about electricity from biomass power.

December

The Company has made a purchase transaction of 255,000 ordinary shares in Eco Thai Energy Co., Ltd., representing 51% of the 500,000 registered shares or registered capital of 50,000,000 baht. (Current registered capital is 76,500,000 baht and the Company holding shares in the ratio of 51%).

February

On February 13, 2014,

The Company had acquired common shares in Greenovation Power Co., Ltd. (“GNP”) from Impact Energy Asia Limited (“IEA”) which do business as a Power Producer from wind energy resource and being a contract partner with Electricity Generating Authority of Thailand and has a Power Purchase Agreement (PPA) in capacity of 60 MW. The Company purchased 199,998 ordinary shares, which is 99.99% of the total 200,000 registered shares, registered capital of 2,000,000 baht. (Currently registered capital is 1,485,000,000 baht and the Company still holding shares in the ratio of 99.99%).

April

On April 17, 2014

The Company established a subsidiary company, Gunkul LED Lighting Co., Ltd., to operate the production and distribution of LED lighting products (LED) which the Company held stakes of 74.79% of their respective 10,000,000 baht, registered capitals. (On February 21, 2018, Gunkul LED Lighting Co., Ltd. changed its name to Gunkul Energy Solution and Lighting Co., Ltd., by expanding the objectives to conduct a full range of electrical system services). (Current registered capital is 100,000,000 baht and the Company holding shares in the ratio of 99.99%).

June

On June 2, 2014

The Company had acquired additional ordinary shares in the amount of 31,563,000 shares, equivalent to 30% of the total registered capital of 1,052,100,000 shares of Wind Energy Development Co., Ltd. from Impact Energy Asia Co., Ltd., which operates in the production and distribution of electricity from wind power. (current capital: 1,575,000,000 baht and the Company holding shares in the ratio of 99.99%).

December

On December 17, 2014,

Gunkul International (Mauritius) (GIM), a subsidiary of the Company, purchased shares of Sendai Okura Mega Solar Godo Kaisha (“GK Sendai”), which is incorporated in Japan by operating the solar power plant business with 31.75 Megawatts (MW) contract capacity (38.10 Megawatts installed capacity) located in Miyaki, Japan. GK Sendai produces electricity from solar energy and sells the electricity to Tohoku Electric Power Co., Inc. (“Tohoku Electric”) in Japan, the local utility, at JPY 36 per unit in feed in tariff scheme of a period 20 years which the Company invests in the ratio of 100%. (Changed name into “Sendai Okura GD Daiichi Godo Kaisha”)

January

On January 31, 2013

The Company acquired a stake in NK Power Sola Co., Ltd. which operates and distributes electricity from solar power by having a contracting party to the Electricity Generating Authority of Thailand, with 1 MW power purchase agreement, representing as 49.00% shareholding. The Company holding shares as 9,799 ordinary shares and 2,940 preferred shares. The voting right for 1 ordinary share is 1 vote and 1 preferred stock is 20 shares. (Currently registered capital 2,600,000 baht However, In 2016, the Company received transfer ordinary shares from the ordinary shareholders for 13,259 shares. The total number of ordinary shares is 23,058 shares and 2,940 preferred shares, representing as holding shares in the ratio of 99.99%)

February

On February 25, 2013

The Company sold common shares in Gunkul Powergen Co., Ltd. to Chubu Electric Power Gem B.V., Japan in the amount of 4,860,800 shares, equivalent to 49.00% of the registered capital of 992,000,000 baht. (The current registered capital is 992,000,000 baht and the Company holds 51.00% of the shares.)

June

On June 13, 2013

Establishment of Siam Wind Energy Co., Ltd., which operates production and distribution of electricity from renewable energy by emphasized on wind energy. The Company holding shares at the ratio of 40% of the registered capital 1,000,000 baht. (This company registered the dissolution of the company on June 19, 2017 and the liquidation was completed on August 2, 2017.)

The Company registered the Establishment of Gunkul International (Mauritius) (“GIM”) in the Republic of Mauritius. The Company held a stake of 100% of the 12,000 USD registered capital in GIM and establish Gunkul International (Singapore) Pte. Ltd. (“GIS”) and Gunkul Myanmar Power (Hlawga) Pte. Ltd. (“GMP”) in Singapore. GIM held a stake of 100% of the 28,000-SGD registered capital in GIS, and GIS held a stake of 100% of the 14,000-SGD registered capital in GMP with the objective of expanding investment in foreign companies

(GIS registered the dissolution of the company on June 4, 2019, and GMP changed the company name to Gunkul International Investment (Singapore) Pte. Ltd. (“GII”) in which GIM holds shares directly in GII.) (Currently, GIM has a registered capital of 134,825,624 USD and GII has a registered capital of 284,829-SGD.)

August

On August 29, 2013

The Company has established a subsidiary company, Siam Gunkul Solar Energy Co., Ltd. to operate the business of producing and distributing electricity from power plants installed on the roof, registered capital 1,000,000 baht, with a par value of 100 baht. (Current registered capital 40,900,000.00 baht and the Company holding shares in the ratio of 99.99%)

September

In September 2013

WHA Corporation PCL established WHA Gunkul Green Solar Roof 8 Co., Ltd., WHA Gunkul Green Solar Roof 9 Co., Ltd., WHA Gunkul Green Solar Roof 10 Co., Ltd., WHA Gunkul Green Solar Roof 16 Co., Ltd., and WHA Gunkul Green Solar Roof 17 Co., Ltd., which the Company held stakes of 25.01% of their respective 100,000 baht registered capitals, to operate solar rooftop power generation and distribution business for supplying to the Provincial Electricity Authority and the Metropolitan Electricity Authority. (Currently registered capital of and WHA_GSR-17 is 16,000,000 baht and the Company still holding shares in the ratio of 25.01%. For WHA_GSR-8, WHA_GSR-9, WHA_GSR-10 and WHA_GSR-16 completed liquated the companies).

March

On March 30, 2012

The Company sold shares of G-Power Source Co., Ltd. to The Electricity Generating Public Company Limited of 4,500,000 shares, representing a total stake of 60% of the registered capital 750,000,000 baht. (Currently registered 930,000,000 baht and the Company holding shares in the ratio of 40%)

May

On May 15, 2012

The Company acquired the shares of Wind Energy Development Co., Ltd. from Impact Energy Asia Co., Ltd., which operates production and distribution of electricity from wind energy. This is a power purchase agreement with the Electricity Generating Authority of Thailand, in the amount of 1 contract of 50 MW and the Provincial Electricity Authority of 2 contracts of 8 MW and 2 MW, totaling 60 MW and has been supporting the electric margin (Adder) 3.50 baht per unit, the Company acquired the common stock of 5,460,000 shares, representing a stake of 70% of the registered capital 78,000,000 baht. (Current registered capital 1,575,000,000 baht and the Company holding shares in the ratio of 99.99%)

October

On October 11-13, 2010

The Company has made an initial public offering of 100,000,000 shares, representing 25% of the total number of 400,000,000 ordinary shares with a par value of 1.00 baht each, at a price of 5.40 baht.

November

On November 19, 2010

The Company acquired the common stock of G-Power Source Co., Ltd. which operates in the production and distribution of electricity from solar energy and being a party with the Provincial Electricity Authority (PEA) which has 4 contracts of power purchase agreements in a total of 26 Megawatts (MW) with a period of 25 years and is supported by an additional electricity charge of 8.00 baht per unit for a period of 10 years. This project also receives promotional privileges from the Board of Investment (BOI). The Company has purchased 9,898 ordinary shares, holding 98.98% of the registered capital of 1,000,000 baht (Current registered capitals: 930,000,000 baht and the Company holding shares in the ratio of 40%)

Gunkul Powergen Co., Ltd. signed a power purchase agreement with the Provincial Electricity Authority to produce and sell electricity from solar energy, with a total of 5 contracts for a total of 30.9 megawatts of solar power for a period of 25 years. The price for the electricity purchase (Adder) from the Provincial Electricity Authority at the price of 8.00 baht per unit for a period of 10 years, including the project is also received a benefit of investment support from the Board of Investment (BOI).

Gunkul Engineering Co., Ltd. increased its registered capital from 300,000,000 baht to 400,000,000 baht and changed the par value of ordinary shares from 100 baht to 1 baht per share.

The Company is transformed into a public limited company and changed its name to “Gunkul Engineering Public Company Limited”.

December

On December 11, 2009

Establishment of Gunkul Powergen Co., Ltd. with registered capital of 100,000,000 baht to produce and sell electricity from renewable energy. (Current registered capital: 992,000,000 baht and the Company holding shares in the ratio of 51%)

1992

Establishment of G.K. Assembly Co. ,Ltd with registered capital of 2,000,000 baht (Current registered capital: 200,000,000 baht and the Company holding shares in the ratio of 99.99%)

Establishment of G.K. Power Product Co., Ltd. (Formerly known as Kerney (Thailand) Co., Ltd.), with registered capital of 2,600,000 baht. (Current registered capital: 100,000,000 baht and the Company holding shares in the ratio of 99.99%)

1982

Establishment of Gunkul Engineering Co., Ltd. with registered capital of 1,000,000 baht. (At present, the registered capital is 2,225,586,448 baht and paid-up capital is 2,220,632,743.50 baht)