Thailand's PTT to acquire majority stake in Glow Energy for $3.05b

The deal is set to be done through PTT’s unit, GPSC.

Oil and gas conglomerate PTT through its power and utilities unit Global Power Synergy (GPSC) is acquiring a 69.11% stake in power generating company Glow Energy for more than $3.05b (THB100b).

Also read: Thailand's BCPG eyes US$300m expansion

Glow is Thailand’s largest private electricity generator with total capacity of 3,207 MW of electricity and 1,206 tons per hour of steam. It supplies power for most of the country’s industrial estates as well as those to neighbour countries.

The deal is set to expand the conglomerate’s power generating and utilities business as it moves to curb risk from volatile oil price fluctuations through diversification.

The acquisition is also largely in line with the country’s power development plan aimed at increasing the proportion of power generated through renewables to 30% of the country’s energy mix in fifteen years.

Also Read

What is the future of gas in Australia's energy market?

Vietnam’s weak grid a barrier to direct power purchase policy

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit