GPSC and Meranti signed a Memorandum of Understanding (MOU) to conduct the joint study and the development of clean energy designated particularly for the steel project, with an expectation of 150 MW of electricity, focusing particularly on solar power, wind power, and hydrogen. The objectives of this project are to enhance the efficiency of high-quality steel production, reduce carbon dioxide to emphasize the environmentally friendly production processes, support national steel and its downstream industries for GDP growth, and study the possibility of the establishment of a long-term energy joint venture with aiming to be the first green steel projects in South East Asia.

Mrs. Rosaya Teinwan, Executive Vice President - Business Development of Global Power Synergy Public Company Limited or GPSC, the innovative power flagship of PTT Group, revealed on 14 June 2023 that GPSC had signed a Memorandum of Understanding (MOU) with Meranti Steel Pte. Ltd., a leading steel producer in Singapore, to study the feasibility of clean energy development projects and the energy management systems for use in the green steel production process, which focuses on the use of clean energy like solar and wind energy (renewable farms) with an expectation to use approximately 150 MW of electricity.

“This MOU is a significant collaboration between GPSC and Meranti in the development of innovative energy technologies with an integration of renewable energies and hydrogen energy, which is the new technologies of the future in the S-Curve industries in order to increase production efficiency while reducing carbon dioxide as much as possible. In reference to the aforementioned MOU, the study plan will take 2 years and it can be extended for another one year. GPSC is responsible for the feasibility study of the development and the implementation of clean energy projects, along with the energy cost management that can be competitive in the long run. At the meantime, GPSC shall develop the appropriate energy solutions that are well agreed by both parties. Moreover, the study plan herein also covers the development of cooperation that can lead to the establishment of the joint venture in the future.,” said Mrs. Rosaya.

Mr. Sebastian Langendorf, Chief Executive Officer of Meranti Steel Pte. Ltd., added, “We are honoured to collaborate with GPSC, a champion in renewable energy, on this pioneering project. Together, we are helping shape a sustainable future for the steel industry in Thailand that strikes a balance between economic growth and environmental responsibility. This project has commenced operations in the second half of 2027 with a capacity of 2 million tons per year in Map Ta Phut, Rayong Province. Meranti’s new green steel plant promises to significantly lower carbon dioxide emissions with using the latest technology, sustainable solutions, and an innovative energy concept. The plant is projected to reduce carbon emissions over time by up to 3 million tonnes annually, compared to traditional blast furnace technologies."

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