Renewable/ GPSC

Editorial staff

Global Power Synergy Plc (GPSC)’s board of directors has approved the selling of 40% of Thai Solar Renewable Co (TSR) shares to Levanta Renewables (Thailand) Co. The transaction is expected to be completed in Q2/2025 and aligns with GPSC’s strategy to expand its renewable energy portfolio and propel continuous growth, both domestically and internationally.

Worawat Pitayasiri, GPSC’s president and chief executive officer, said the innovative power flagship of PTT Group, said that the company's board of directors had approved the selling of 40% shares (23.33 million shares) of TSR owned by GPSC valued 1.2 billion baht to Levanta Renewables (Thailand) Co (Levanta).

The transaction is expected to be completed within the second quarter of 2025.

The deal is compliant with the company’s strategy to restructure project portfolio to align with company's business directions and believed to create maximum benefits of both companies and shareholders in the long run.

The company is committed to strengthening its competitiveness in the renewable energy businesses and contribute to the growth of Thailand. TSR holds 100% shares of Siam Solar Energy 1 Co (SSE1) who operates solar power plants with a production capacity of 32 MW in proportion of GPSC’s shareholding. SSE1 solar farms utilize ground-mounted photovoltaic solar panels (PV Solar Farm) and distribute all electricity into the system of the Provincial Electricity Generating Authority of Thailand (PEA) with its COD since 2013.