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# Gulf profit rises as Thai power projects and digital unit advance
- URL: https://www.southeastasiaconnect.com/gulf-thailand-q3-2026-power-digital-earnings/
- Published: 2026-11-06T12:40:21.000Z
- Updated: 2026-11-07T14:35:11.000Z
- Description: Higher electricity sales and operating solar capacity supported Q3 results; 2027 data-centre projects remain planned.
- Author: Southeast Asia Editorial Team
- Tags: Thailand, Energy, Digital Infrastructure

[Gulf Development](https://www.gulf.co.th/en/?ref=southeastasiaconnect.com) reported higher third-quarter profit as electricity sales and operating renewable projects strengthened its Thai energy business. Its digital unit also returned to profit, giving investors a clearer view of which power and data-centre assets contributed during the quarter and which remain plans.

Net profit attributable to Gulf's parent company rose 28% from a year earlier to THB 9.29 billion in Q3 2026, according to [its results statement](https://www.gulf.co.th/en/stories-and-insights/bf992d32-3373-44ff-905e-1592d2decc5b/gulf-reports-net-profit-of-thb-9-289-million-in-q3-2026-up?ref=southeastasiaconnect.com). The company reported THB 9.05 billion in core profit, up 24%, and revenue of THB 52.81 billion, up 75%. Those are different measures; the parent net-profit figure includes foreign-exchange effects.

Gulf attributed part of the energy improvement to greater power sales from its Gulf Pluak Daeng gas-fired project, where the average load factor rose to 72% from 45% a year earlier. It also reported 14 domestic solar and solar-with-storage projects in commercial operation, with combined installed capacity of 1,379 MW, compared with five projects and 532 MW in Q3 2025.

The Gulf Edge digital business returned to profit after the GSA01 data centre began full operations in June, Gulf said. That is an operating result for an existing facility. The company's GSA02 and GEDC01 data centres are scheduled for 2027 and should not be counted as current capacity. For Thailand's infrastructure market, the quarter shows earnings from assets already producing power and digital services, while the next capacity additions still depend on delivery.

## Sources

- [Gulf Development, Q3 2026 results statement, 5 November 2026](https://www.gulf.co.th/en/stories-and-insights/bf992d32-3373-44ff-905e-1592d2decc5b/gulf-reports-net-profit-of-thb-9-289-million-in-q3-2026-up?ref=southeastasiaconnect.com)