PTT’s power generation arm GPSC to build solar farm in India

Global Power Synergy Plc (GPSC), the power generation arm of national oil and gas conglomerate PTT Plc, continues to grow its renewable business in India after its subsidiary Avaada Energy Private (Avaada) won an auction for a 421-megawatt solar farm project in this country.

The project will play a key role in increasing electricity generation capacity from renewable sources in India to more than 5,000MW, helping its government to achieve a goal to have clean energy make up over 50% of fuels used in power generation, according to GPSC.

The company holds a 42.93% share in Avaada, which has recently won the bidding, organised by REC Power Development and Consultancy Limited on behalf of Damodar Valley Corporation under the Indian government.

Avaada was declared the winner after quoting a tariff of 2.7 Rupee per kilowatt-hour.

The company was awarded a 25-year power…