Bangkok: GPSC is moving forward with its investment portfolio adjustments to support energy growth after reaching an agreement to sell a 33.33% stake in Chonburi Clean Energy Co., Ltd. (CCE), an industrial waste-to-energy power plant, for 354 million baht to Veolia. The deal is expected to close by the end of 2025, and the company is accelerating portfolio expansion to generate consistent returns.
According to Thai News Agency, Ms. Panporn Sasanan, Chief Financial Officer of Global Power Synergy Public Company Limited (GPSC), the innovative power flagship of PTT Group, revealed that Glow IPP 3 Company Limited (GIPP3), a subsidiary of GPSC, signed a share purchase agreement for its entire 33.33% stake in Eastern Seaboard Clean Energy Company Limited (ESCE). ESCE holds Chonburi Clean Energy Company Limited (CCE), a non-hazardous industrial waste-to-energy power generation business with an installed capacity of 8.63 megawatts, and the shares are being sold to Veolia Environmental Services (Thailand) Company Limited. The purchase price is set at 354 million baht, with completion expected by the end of 2025.
This agreement is part of the ongoing restructuring of GPSC's investment portfolio and aligns with the company's long-term growth direction. This plan aims to enhance financial management flexibility and liquidity, while also exploring new investment opportunities and projects supporting the transition to clean energy. GPSC's strategy aims to enhance capital efficiency, reduce risk on assets that are not in line with its business direction, and strengthen its portfolio to generate stable returns for shareholders and support sustainable future business expansion.