BANGKOK: Global Renewable Synergy Company Pcl (GPSC), a Thai electricity company, said that it has purchased 41.6 percent of India’s Avaada Energy for 14.8 billion baht (US$453.29 million). “The investment in this platform is consistent with the company’s renewable energy growth strategy,” GPSC CEO Worawat Pitayasiri said in a statement late Tuesday.
India is a focal country for renewable energy expansion, according to GPSC, a subdivision of state-owned PTT Pcl.
PTT Global Chemical Pcl, another PTT company, recently announced a US$4.75 billion acquisition of German coating resins manufacturer Allnex (Reporting by Chayut Setboonsarng; Editing by Ed Davies)
Reuters is the source of this information./n
