PTT Group prepares to purchase GRP shares to support overseas investment in renewable energy power plants
Mr. Athapon Rerkpiboon, Chief Executive Officer and President, PTT Public Company Limited or “PTTRevealed that the meeting of the Board of Directors of PTT has approved the purchase of shares.Global Renewable Power Company Limited Or GRP (a subsidiary that Global Power Synergy Public Company Limited Or GPSC holds 100%) of GPSC approximately 4.655 million shares, accounting for 50% of the registered capital. Operated through PTT’s subsidiaries, namely PTT Global Management Company Limited Or PTTGM, the total transaction value is approximately 693 million baht.
The joint venture is another step in enhancing cooperation according to Powering Thailand’s Transformation strategy. Which focuses on giving importance to stakeholders And linking work between companies in the PTT Group, as well as being in line with the PTT Group’s strategic plan in being a leader in renewable energy Or clean energy In addition, for PTT Group to achieve 8,000 MW of renewable power generation capacity by 2030.
And to develop the potential of the renewable energy of PTT Group in the future, this will bring together experienced personnel and expertise in renewable energy from both PTT and GPSC to work together. Which will improve efficiency Including increasing competitiveness Leading to the joint sustainable energy development
Mr. Chavalit Tippawanich, Chief Executive Officer and President of GPSC, said that this cooperation It is a goal to drive renewable energy businesses That will lead to increased potential Expertise And opportunities to expand new projects internationally, as well as enabling GPSC to manage finances more efficiently. Have funds to invest in projects in line with the company’s growth goals. To increase the proportion of electricity production from main energy And renewable energy both at home and abroad
However, GPSC remains the mainstay of PTT Group’s sustainable energy innovation. And distribute electricity into the system toProvincial Electricity Authority (PEA) and operates power plant management and maintenance business.Solar Farm (Solar Farm), total 9 projects located in the area Lopburi, Suphanburi, Phichit and Khon Kaen provinces with a production capacity of 39.5 megawatts.
The power purchase agreement has a period of 25 years, divided into a power purchase agreement in the form of an additional power purchase price or adder at the rate of 8 baht per unit (for the first 10 years of the contract) in proportion of 3.6 MW Feed-in Tariff or FiT format at the rate of 5.66 baht per unit in the proportion of 35.9 MW.All power plants have been commercially operational since 2014 – 2015.
GPSC is held 22.8% by PTT Public Company Limited. PTT Global Chemical Plc. (GC) 22.7% Thai Oil (TOP) 8.9%, Thai Oil Power Co., Ltd. (TP) 20.8%, and general investors 24.8% (PTT is in the process of buying GPSC shares from the 8.9% TOP held by TOP. GPSC shares rose from 22.8% to 31.7%, with the acquisition process expected by 2020).
GPSC is the mainstay of PTT Group’s electricity and utilities business, with its main business being the production and distribution of electricity, steam, and utilities for distribution to industrial customers. Electricity Generating Authority of Thailand (EGAT) and others At present, the power generation capacity has been approved in proportion to its shareholding (Equity MW), approximately 5,076 MW, approximately 2,876 tons of steam per hour. Approximately 15,400 tons of cold water and approximately 7,372 cubic meters per hour of industrial water.