Thailand's Global Power System acquires 41% stake in Avaada Energy

The acquisition has been made through Global Renewable Synergy Company Ltd, a wholly-owned subsidiary of Global Power Synergy Public Company Limited

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

The acquisition has been made through Global Renewable Synergy Company Ltd, a wholly-owned subsidiary of the GPSP, said the company in a public statement issued on the Stock Exchange of Thailand. 

Avaada has a total committed capacity of approximately 3,744 megawatts, of which approximately 1,392 Mw is operational and balance capacity is under construction with expected commercial operations by 2021 – 2022, said the company. 

"The investment in this platform aligns with the Company’s growth strategy in renewable energy business internationally and enhances the Company’s expertise in the solar power generation as well as the business collaboration in the area of the Company’s renewable energy business in the future," GPSP said in its statement.