GPSC posts 85% profit uptick last year

GPSC posts 85% profit uptick last year
published :
13 Feb 2021 at 04:00
GPSC's co-generation power plant in Rayong province. (Photo: Global Power Synergy Plc)
Global Power Synergy Plc (GPSC), the power generation arm of PTT Group, recorded an 85% increase in profit last year thanks to cost savings and full-year operation of a new asset acquired from France-based Engie Group.
Turnover last year rose to 7.51 billion baht from 3.45 billion in 2019 despite the pandemic hammering the Thai economy.
President and chief executive Worawat Pitayasiri said GPSC acquired SET-listed Glow Energy Plc, a business unit of Engie Global Development B.V. (Engie), in mid-2018, but it had to spend almost a year completing the transaction and receiving approval from the Energy Regulatory Commission.

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