Through GRSC, a wholly owned subsidiary, GPSC reached an agreement to invest in Avaada Energy Pte. Ltd. (Avaada), a renewable energy business operator in India, with a total investment of about THB 14.825 billion, or about 41.6% of its capital. Today, Avaada’s committed capacity totals 4,608 MW (2,205 MW in commercial operation and 2,403 under construction); it will in stages become commercial in operation by 2022-2023, with a growth target of 11,000 MW by 2025. This investment was part of the plan to grow GPSC’s renewables portfolio under a goal of 8,000 MW from renewables by 2030.
GRSC, a wholly owned subsidiary, GPSC signed a joint-investment agreement with Copenhagen Infrastructures Partners (CIP) on behalf of the Copenhagen Infrastructure II K/S (CI-II) and Copenhagen Infrastructure III K/S (CI-III) for cooperation under an offshore wind power project entitled Changfang and Xidao in Taiwan with a combined installed capacity of 595 MW. The project is expected to go entirely commercial by the first quarter of 2024, with investment worth USD 5 million to the end of the construction. GPSC subsequently formed Global Renewable Synergy Taiwan Co., Ltd. (GRSC TW) to assume 25% shares in this project. It is expected to implement the enforced terms before transferring the shares by 2022.
GPSC inaugurated its SemiSolid G-Cell energy storage system plant, the first in Southeast Asia, with an initial capacity of 30 MWh/year under the USA’s 24M Technologies Incorporation’s battery production innovation. GPSC had obtained a license for production and distribution of the system. The plant lies in Map Ta Phut Industrial Estate, Rayong. Its capacity can grow to 100 MWh/year and step up to the initial commercial plant at 1 GWh/year. GPSC is currently investigating and reviewing investment plans over the next phase.