BANGKOK -- Thai electricity company Gulf Energy Development has acquired a wind power project in Germany and another in Vietnam in the space of a week, targeting the growing global trend towards decarbonization.
Gulf Energy Development announced on Tuesday that its wholly-owned subsidiary Gulf International Holding had entered a share purchase agreement with New York-based infrastructure investor Global Infrastructure Partners to acquire 100% of Borkum Riffgrund 2 Investor Holding, based in Frankfurt, for more than 548 million euros ($618 million). The contract came into effect on July 3.
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