GPSC unit enters share purchase deal for 8.63 MW waste-to-energy facility

This is part of the company’s portfolio rebalancing.

Global Power Synergy Public Company Limited’s (GPSC) wholly owned subsidiary has entered into a deal to dispose of its indirect investment in the 8.63 megawatt (MW) Chonburi Clean Energy Company Limited (CCE).

According to GPSC, the share purchase agreement was signed by Glow IPP3 Company Limited, with the shares sold to Veolia Environmental Services (Thailand) Company Limited. The share sale represents 33.33% of CCE’s issued and paid-up shares, with $10.97m (THB 354.16m) in equity value.

CCE has an installed capacity of 8.63MW utilising non-hazardous industrial waste as fuel.

“The Share Disposal Transaction is undertaken as part of the GPSC’s strategic portfolio rebalancing plan, ensuring alignment with our long-term business strategy whilst optimising the efficiency of investment portfolio management and maximising asset value for the benefit of GPSC and its shareholders,” the company said.

The share disposal will be completed upon all conditions precedent as stipulated in the ESCE Share Purchase Agreement, with the transaction expected to be completed within 2025.

THB1 = USD0.031