PTT unit GPSC invests $500m for 25% of Taiwan wind farm bangkokpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bangkokpost.com Daily Mail and Mail on Sunday newspapers.
published : 14 Jul 2021 at 11:51
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Global Power Synergy Plc (GPSC), a power generation arm of Thailand s national oil and gas conglomerate PTT Group, has paid 14.82 billion baht to acquire a 41.6% stake in Avaada Energy Private Co (Avaada), one of the leading renewable energy companies in India.
GPSC invested ithrough its subsidiary Global Renewable Synergy Co (GRSC), which has already completed the acquisition of the 41.6% holding of an approximately 3,744 megawatts (MW) solar power portfolio.
The deal expands its renewable energy portfolio in line with the group s renewable energy target of 8,000 MW in 2030.
Avaada s current committed capacity is approximately 3,744 MW, of which about 1,392 MW are from operating plants, with the remaining 2,352 MW to come from other plants under construction. The new plants will gradually begin commercial operations in 2021 and 2022.
Natural gas mooted for the South
published : 2 Jul 2021 at 04:00
The Industrial Estate Authority of Thailand (IEAT) plans to conduct a joint study on natural gas fuel as part of power supply management for its Rubber City Industrial Estate in Songkhla and power security in the South.
It will cooperate with Trans Thai-Malaysia (TTM) and Global Power Synergy Plc (GPSC) under a memorandum of understanding expected to be signed in Bangkok soon.
TTM operates a Thai-Malaysian gas pipeline and gas separation facility project while GPSC is the power generation arm of PTT Group. Electricity demand in Rubber City is currently 23.15 megawatts [MW], coming from 17 factories and two small and medium-sized enterprises, said Veeris Ammarapala, IEAT governor.
PTT Group is putting its power business on the fast track, with generation capacity expected to increase by at least 1 gigawatt each year in a bid to achieve a target of 16GW by 2030.
National oil and gas conglomerate PTT Plc is preparing to make its debut in the electric vehicle (EV) assembly industry in the third quarter after the launch of battery businesses last year.