Tue. May 21st, 2019

Tycoon Declares Coal Doomed in Last Bastion of Big Bank Aid

Sarath Ratanavadi, founder of Thailand’s Gulf Energy Development Pcl, is seeking to electrify swaths of the region using natural gas and renewables. The billionaire, whose wealth has surged about 22% this year, is seeking to expand his company’s reach into some of the poorest parts of Southeast Asia without using coal, where a need for cheap power has been expected to trump environmental protection in the pursuit of economic development.

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