Embarking on a mission to bolster its renewable energy portfolio, Global Power Synergy Plc (GPSC), the power production offshoot of PTT Plc – the national oil and gas conglomerate, is looking at investing upwards of 19.1 billion rupees (roughly 8.28 billion baht) in India-based Avaada Energy Private. This investment is aimed at leveraging the upswing in electricity demand in the Indian subcontinent.
Through Global Renewable Synergy Co, its subsidiary, GPSC has a 42.9% stake in Avaada Energy Private, which itself is a subsidiary of India’s Avaada Group, an enterprise that specialises in renewable energy.
As stated by Worawat Pitayasiri, the President, and Chief Executive of GPSC, the objectives of the extra capital involve seeding business growth and aiding the construction of upcoming solar power initiatives, planned to address the…
