GPSC has approved its subsidiary, GRSC, to accept an offer to sell a 3.03% stake in AEPL for approximately$79 millionto AVPL, the current shareholder. The company remains steadfast in enhancing project development efficiency to meet the growing demand for clean energy. The share transaction is expected to be finalized withinQ3/2025, aligning with opportunities in India's renewable energy and power sector growth.

Mr. Worawat Pitayasiri, Chief Executive Officer ofGlobal Power Synergy Public Company Limited or GPSC, the innovative power flagship of PTT Group, stated that onMay 6, 2025,Global Renewable Synergy Company Limited (GRSC), a GPSC subsidiary, agreed to sell its3.03% stakein Avaada Energy Private Limited (AEPL)for approximately$79 millionto Avaada Venture Private Limited (AVPL), the existing shareholder. The transaction will be completed upon fulfilling all agreed pre-conditions, with both parties expected to finalize the deal byQ3/2025. Following this transaction,GRSC’s stake in AEPL will reduce to 39.90%, whileAVPL’s ownership will increase to 60.10%. AEPL, part of theAvaada Group, is a leading renewable energy business enterprise inIndia. GPSC initially invested in AEPL through GRSC in2021, when the company had a total generation capacity of3,744 MW. As ofMarch 2025, AEPL has secured solar power projects in India with a total capacity of20,558 MW.

The shareholding rebalancing plan complies with GPSC’s strategic business plan to support the expansion of the renewable energy business and related business in the Republic India, which can be used to expand its investment aligning with the country's growing electricity consumption trends.

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