Thai energy company, Global Power Synergy PCL (GPSC) stated on July 29, 2021 that it has acquired a 25% stake in Taiwan’s offshore wind farm for $500 million. The transaction is the second day after the announcement of a US$453 million investment in a solar project in India.
GPSC CEO Worawat Pitayasiri said: “The Long House and West Island (CFXD) project will be installed in two phases. The first phase of 96 MW (MW) is expected to achieve the first power generation in 2022, and the second phase will be completed in 2022. Achieve 499 megawatts in 2023."
The Thai company bought a stake in the CFXD wind farm from a Copenhagen infrastructure partner, who will remain the majority shareholder. GPSC is a subsidiary of state-owned PTT Pcl and one of many Thai energy companies that conduct renewable energy transactions overseas. Local competitor BCPG Pcl announced that it has signed an agreement to sell power from its 600 MW wind power project in Laos to Vietnam.
Keywords: new energy, overseas engineering, international engineering construction, foreign engineering construction news
The acquisition of GPSC will increase its renewable energy capacity by 149 megawatts to 2,294 megawatts, accounting for 34% of the company's total capacity. Editor/XuNing
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