GPSC and SMBC jointly enter into an agreement of Green Loan amounting to USD 185 million with the contract term of 10 years, aiming to expand the investment in clean energy and increase its renewable energy portfolio to over 50% of its total capacity by 2030, aligning with the 4S strategy for the development of future energy projects for sustainable growth.

Mr. Worawat Pitayasiri, President and Chief Executive Officer of Global Power Synergy Public Company Limited or GPSC, the innovative power flagship of PTT Group, revealed that today (13 September 2022), GPSC Treasury Center Company Limited (GPSC TC), a subsidiary of which 100% of all shares are held by GPSC, entered into an agreement of Green Loan with Sumitomo Mitsui Banking Corporation (SMBC), led by Mr. Tetsuro Imaeda, Senior Managing Executive Officer, Co-Head of Global Banking Unit of SMBC. This is the first green loan in PTT Group supporting such a credit line of USD185 million designated for the implementation of clean energy projects in the future. The term of the said loan is 10 years.

The objective of this financial cooperation is to promote the issuance of credit for the investment in green energy projects based on such clean energy as solar energy or wind power. This will support S2: Scale-up Green Energy which is the main growth strategy or 4S Strategy (S1: Strengthen and Expand the Core, focusing on the optimization of production capacity in the core businesses, S2: Scale-up Green Energy, increasing the proportion of development on the clean energy projects, S3: S-Curve & Batteries, developing energy innovations and s-curve businesses, and S4: Shift to Customer-centric Solutions, offering solution service that can satisfy the needs of customers in terms of both electricity generation and utilities by means of energy innovations in both main and alternative power plants.), which has boosted GPSC to become one of the top three leading companies specialized in energy innovations for sustainability in Southeast Asia. GPSC is also trying to increase the proportion of clean energy to over 50% of its total capacity for the next 10 years or by the year 2030 in order to respond to the trend of global energy change and the National Energy Plan of Thailand, which emphasizes the move towards clean energy and Net Zero. This is all to reduce the global warming while achieving energy security so that the country’s economy, societies, and environments can be enhanced.

“This is considered the success of GPSC Group to receive financial support from SMBC. It will be an important tool in pursuing investment opportunities in clean energy and strengthening the company’s financial position so that the company can efficiently implement the business plans on clean energy. So far, GPSC has always been investing in alternative energy projects, both in and out of the country, which is corresponding to the new Power Development Plan (PDP 2022), an important part of the National Energy Plan, which will be completed in 2022, focusing on the increase of clean energy consumption," said Mr. Worawat.

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