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Power arm of Thailand s PTT to invest $635m in Asian renewables
Out-Law News | 06 Jul 2021 | 1:33 am | 1 min. read
Global Power Synergy, the power arm of Thailand’s state-owned oil and gas group PTT, will invest THB20 billion ($635 million) in renewable energy across Asia including China and India.
The company will borrow the fund from PTT for investment focusing on solar and wind projects. The company is reported to be aiming to have 30% of the power it generates come from renewables, including hydropower, up from the current 12%.
Global Power Synergy said it has formed a subsidiary to handle the overseas renewables business.