GPSC acknowledges ERC's resolution and prepares next moves for domestic and overseas business expansion

GPSC acknowledges ERC's resolution and vows to proceed with its vision in continually growing business with innovations and exploring new opportunities in Thailand and overseas on top of several ongoing projects in hand.

Mr. Chawalit Tippawanich, President and Chief Executive Officer of Global Power Synergy Public Company Limited or GPSC, said that GPSC duly acknowledged the Energy Regulatory Commission's rejection to its proposed acquisition of Glow Energy Public Company Limited or GLOW and is exploring new alternatives. GPSC hereby insisted that it strictly and completely followed legal requirements and it would proceed with the original business plan designed in alignment with its vision to become the global leading innovative and sustainable power.

Under the vision, we give importance to Thailand's energy security and service efficiency to address the needs of various users, seek growth opportunities in Thailand and overseas as well as accelerate power-related innovations. GPSC is convinced that the vision guides it towards a right business direction, reflecting in continued improvement in financial results in the past 3 years. Importantly, GPSC's net profit in the second quarter in 2018 marked a new historical record.

GPSC strives to further develop power and energy related innovations while searching for new investment opportunities to support increasing power demand driven by investments under the Eastern Economic Corridor (EEC) scheme and domestic consumption. Meanwhile, it outlines a plan to invest in power plants in neighboring countries.

Mr.Chawalit added that GPSC has a number of investment projects under feasibility study and development as it sets to continually grow financial results. Meanwhile, GPSC will discuss with Engie. Shareholders and investors will be notified of significant progress in due time.

Back11 October 2018