GPSC divests in Japan’s ISP1

GPSC divests in Japan’s ISP1

Sale of shares worth B1.1bn aims to fund investment in green energy

Global Power Synergy Plc (GPSC), the power generation arm of national oil and gas conglomerate PTT Plc, is planning to add new investment projects to its green energy portfolio by selling all shares worth around 1.1 billion baht in Ichinoseki Solar Power 1 GK (ISP1) in Japan.

The divestment of shares will enable the company to allocate money for further investment in accordance with its strategy, which aims to increase electricity generation capacity through energy sources that are friendly to the environment, said Worawat Pitayasiri, president and chief executive of GPSC.

The company reported to the Stock Exchange of Thailand yesterday on the share purchase deal with CES Iwate Taiyoko Hatsudensho GK.

The transaction…