Global Power Synergy Plc (GPSC), the power generation arm of PTT Group, recorded an 85% increase in profit last year thanks to cost savings and full-year operation of a new asset acquired from France-based Engie Group.
Turnover last year rose to 7.51 billion baht from 3.45 billion in 2019 despite the pandemic hammering the Thai economy.
President and chief executive Worawat Pitayasiri said GPSC acquired SET-listed Glow Energy Plc, a business unit of Engie Global Development B.V. (Engie), in mid-2018, but it had to spend almost a year completing the transaction and receiving approval from the Energy Regulatory Commission.
Once the procedure was completed in December 2019, Glow Energy was delisted from the stock…
