Thailand’s GPSC secures 1,050MW solar project in India

The power generation division of Thailand’s PTT Plc, Global Power Synergy Plc (GPSC), is making significant strides in expanding its renewable energy footprint in India. Its subsidiary, Avaada Energy, has secured a contract to construct a massive 1,050-megawatt solar farm aimed at boosting clean energy production, reducing carbon emissions, and serving millions in India.

Avaada Energy emerged victorious in a competitive auction hosted by the state-run National Thermal Power Corporation, securing the rights to develop this major solar project.

The President and Chief Executive of GPSC, Worawat Pitayasiri, stated that the project brings Avaada’s total renewable power capacity to roughly 15 gigawatts, which exceeds its target.

Avaada Energy operates as a renewable energy arm of Avaada Group, with GPSC holding a 42.9% stake through its fully-owned subsidiary, Global Renewable Synergy Co.

According to Avaada Energy, this new solar farm is poised to generate a substantial amount of solar power annually. It is expected to play a pivotal role in advancing India’s green energy sector by supplying electricity to more than 12 million households. The project is also projected to cut carbon dioxide emissions by up to 1.68 million tonnes each year.

Indian Prime Minister Narendra Modi emphasised the country’s commitment to achieving net-zero emissions by 2070, a goal announced at the 26th UN Climate Change Conference in Glasgow in 2021. This solar farm aligns with India’s broader environmental objectives.

Avaada Energy anticipates completing the solar farm within 24 months of signing a 25-year power purchase agreement with Indian authorities.

The company has a track record of success in renewable energy projects, having secured a 1.4GW solar power development project last year. Avaada Energy plans to escalate its renewable energy capacity to 11GW by 2026 and further to 30GW by 2030.

GPSC is also setting ambitious goals to enhance its renewable energy portfolio. It aims to increase the share of renewables from 37% of its total fuel mix in 2024 to 67% by 2026.

Currently, natural gas constitutes 51% of the fuels used by GPSC, while coal accounts for 12%. The company’s current electricity generation capacity stands at 6.7GW, with expectations to elevate this to 10.4GW by 2026, reported Bangkok Post.

This expansion is part of GPSC’s broader strategy to transition towards more sustainable energy solutions, aligning with global efforts to address climate change and reduce reliance on fossil fuels.