Energy/GPSC

Global Renewable Synergy sells its 3.03% stake in AEPL

Editorial staff

GPSC has approved its subsidiary, GRSC, to accept an offer to sell a 3.03% stake in AEPL for approximately $79 million to AVPL, the current shareholder.

Worawat Pitayasiri, chief executive officer of Global Power Synergy Plc (GPSC), the innovative power flagship of PTT Group, said on May 6 this year that Global Renewable Synergy Co (GRSC), a GPSC subsidiary, agreed to sell its 3.03% stake in Avaada Energy Private Limited (AEPL) for approximately $79 million to Avaada Venture Private Limited (AVPL), the existing shareholder.

The transaction will be completed upon fulfilling all agreed pre-conditions, with both parties expected to finalize the deal by Q3/2025. Following this transaction, GRSC’s stake in AEPL will reduce to 39.90%, while AVPL’s ownership will increase to 60.10%. AEPL, part of the Avaada Group, is a leading renewable energy business enterprise in India. GPSC initially invested in AEPL through GRSC in 2021, when the company had a total generation capacity of 3,744 MW.

As of March 2025, AEPL has secured solar power projects in India with a total capacity of 20,558 MW. The shareholding rebalancing plan complies with GPSC’s strategic business plan to support the expansion of the renewable energy business and related business in the Republic India, which can be used to expand its investment aligning with the country's growing electricity consumption trends.