Thailand based GPSP acquires 41 per cent shareholding in Avaada Energy

Global Power Synergy Public Company Limited (GPSP), Thailand has bought 41.6 per cent stake in Avaada Energy Private Limited at an enterprise value of THB 14,825 million.

The acquisition has been made through a wholly-owned subsidiary of GPSP, Global Renewable Synergy Company Limited. This investment is in line with the company’s growth strategy in renewable energy (RE) businesses internationally. Avaada currently has a total committed capacity of about 3,744 MW, of which 1,392 MW is operational and the remaining is under construction with expected commercial operations by 2021 to 2022.

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