Wedoany.com Report-Aug. 19, Global Power Synergy Public Company Limited (GPSC) has announced that its wholly owned subsidiary, Glow IPP3 Company Limited, has signed a share purchase agreement to sell its indirect investment in Chonburi Clean Energy Company Limited (CCE) to Veolia Environmental Services (Thailand) Company Limited. The transaction involves a 33.33% stake in CCE’s issued and paid-up shares, valued at $10.97 million (THB 354.16 million).

CCE operates an 8.63-megawatt facility that utilizes non-hazardous industrial waste as fuel, contributing to sustainable energy production. The share disposal aligns with GPSC’s strategic portfolio rebalancing plan, aimed at enhancing investment efficiency and maximizing asset value. GPSC stated: “The Share Disposal Transaction is undertaken as part of the GPSC’s strategic portfolio rebalancing plan, ensuring alignment with our long-term business strategy whilst optimising the efficiency of investment portfolio management and maximising asset value for the benefit of GPSC and its shareholders.”

The transaction’s completion is subject to fulfilling all conditions outlined in the share purchase agreement, with finalization expected within 2025. This move reflects GPSC’s commitment to refining its investment strategy, focusing on assets that support long-term growth and sustainability goals.

By divesting its stake in CCE, GPSC aims to streamline its operations while maintaining a focus on efficient and sustainable energy solutions. The collaboration with Veolia Environmental Services (Thailand) ensures the continued operation of the Chonburi facility, supporting Thailand’s clean energy initiatives and contributing to regional economic and environmental objectives.