Global Power Synergy unit sells 3% stake in Avaada Energy

The transaction is valued at nearly $80m.

Global Power Synergy Public Company Limited’s wholly owned subsidiary has agreed to partially sell its 42.93% interest in Avaada Energy Private Limited (AEPL).

In a statement, Global Power Synergy said Global Renewable Synergy Company Limited (GRSC) has accepted an offer from Avaada Ventures Private Limited (AVPL), also a shareholder, to acquire AEPL shares amounting to 47,817,779 shares for $79m.

The transaction has been approved by the Global Power Synergy board of directors.

Global Power Synergy expects the sale to be completed within the third quarter of 2025. Upon completion, GRSC and AVPL will have their stake of 39.90% and 60.10% of the total issued and paid-up shares in AEPL, respectively

The company said this move is part of its “plan to support the expansion of renewable energy and related businesses, and enhance the efficiency of project management in India, including enabling the recognition of investment returns.”

Global Power Synergy initially invested in AEPL in 2021 with a total committed capacity of 3,744 megawatts (MW). As of March 2025, AEPL’s total committed capacity has been increased to 20,558 MW.