Thai Firm GPSC Buys Stake in Taiwanese Offshore Wind Farm for $500M

Chayut Setboonsarng
Thursday, July 15, 2021

Thai energy company, Global Power Synergy Pcl (GPSC), on Thursday said it had acquired a 25% stake in a Taiwanese offshore wind farm for $500 million.

The deal comes a day after it announced a $453 million investment in a solar project in India.

"The Changfang and Xidao (CFXD) project will be installed in two phases. The first 96 MW (megawatt) phase is expected to achieve first power in 2022 and the second 499 MW phase in 2023," GPSC chief executive Worawat Pitayasiri said.

The Thai firm bought the shares of the CFXD wind farm from Copenhagen Infrastructure Partners, which will remain majority shareholder.

GPSC, a unit of the state-owned PTT Pcl, is among a number of Thai energy firms making renewable deals overseas.

Local rival, BCPG Pcl, this week announced that it had signed an agreement to sell electricity from its 600 MW wind power project in Laos to Vietnam.

The GPSC acquisition will increase its renewable energy capacity by 149 MW to 2,294 MW, or 34% of the company's total capacity. 

(Reporting by Chayut Setboonsarng Editing by Ed Davies)

Categories: Energy Renewable Energy Industry News Offshore Wind Activity Renewables

Related Stories

Asian Buyers Rush for Russian Oil Amid Supply Disruption

Rising Costs of War: Gulf Energy Infrastructure Stares Down $25B Repair Bill

ADES Expects Up to 44% Earnings Rise Despite Regional Tensions Impacting Rigs

CNOOC Names New CEO

Offshore Vietnam: Energy Imports Rise as Domestic Production Falls

Eni Advances Major Deep Water Gas Hubs with Dual FIDs

Eni Advances Angola Gas Project, Secures $9B Credit Facility

Eni: New Gas Discoveries in Libya

Mubadala Hires SLB for Deepwater Drilling Services Offshore Indonesia

Seadrill Firms Up Offshore Drilling Workload with Multi-Region Contract Awards

Current News

Eni Exits Consortium for Oil and Gas Exploration Offshore Israel

Big Oil to Reap Billions from Energy Price Surge

UAE Stands Ready to Join Force to Reopen Strait of Hormuz

Asian Buyers Rush for Russian Oil Amid Supply Disruption

Mubadala Energy Secures Southwest Andaman Exploration Block off Indonesia

Strohm to Supply Insulated TCP Jumpers for Malaysia’s Offshore Project

Arabian Drilling Flags Temporary Offshore Rig Suspensions in Persian Gulf

Iran War Sends LNG Prices Soaring, Curbing Asia Demand

Rising Costs of War: Gulf Energy Infrastructure Stares Down $25B Repair Bill

ADES Expects Up to 44% Earnings Rise Despite Regional Tensions Impacting Rigs

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com