GPSC D-Day, new organizational structure effective from 1 April, join forces to drive business to be the innovative power leader.
GPSC starts a new organizational structure, D-Day effective from 1 April 2020. Enhance its potential for operating system synergy after merging with GLOW. Ready to strengthen business with integrated team from two organizations, in terms of personnel expertise, increase in power generation units, strong financial status, step into the leader of innovative power, develop the ESS system for renewable energy storage, for future sustainable energy that can support the growing industry in EEC region.
Mr. Chawalit Tippawanich, President and Chief Executive Officer of Global Power Synergy Public Company Limited or GPSC, the innovative power flagship of PTT Group, revealed that, on 1 April 2020, GPSC will move towards to a new organization management after its acquisition of Glow Energy Public Company Limited or GLOW into one of GPSC Group, under one organizational management structure. Currently, GPSC holds 99.83% stakes of GLOW and has delisted the securities of GLOW from being listed on the Stock Exchange of Thailand.
Currently, GPSC has a total generating capacity according to Equity MW of 5,026 MW that is a commercial generating capacity of 4,708 MW and some projects which will gradually supply power to the grid system by 2020 - 2023. In addition, there are more developing projects that will enable GPSC to grow and generate more returns in the future.
Meanwhile, GPSC’s expertise staffs who are expected to help drive the business with efficient resource management and the company’s strong financial status, especially cash flow increase initiative, will play an important role to empower GPSC the ability to explore business opportunities, both in research and development of innovative power and investment opportunities, both domestically and internationally, bringing about higher growth in the future, especially in the renewable energy business and energy storage systems (ESS) sectors.
“GPSC gives importance on the production and distribution of power and utilities to support the industrial growth in the Map Ta Phut Industrial Estate area and the Eastern Special Development Zone or the Eastern Economic Corridor (EEC). This initiatives can support the target industries which are expected to grow Thai economy in the long run," said Mr. Chawalit.
The company has put strenuous effort on increasing the efficiency of operations and services as well as stabilizing the power distribution system and utilities to the customers as stated in the contract terms and conditions. In particular, power plants in the Map Ta Phut area, covering all areas and can connect the power transmission system and steam pipelines, be capable of generating power and steam from the network integration with GLOW, enhancing GPSC to enact high management efficiency as a group as much as possible.
Mr. Chawalit said that GPSC, the innovative power flagship of PTT Group, has committed to drive the organization towards a plan to increase its proportion of power production from renewable energy to 30% of total production capacity, from its current proportion of 11% of total production capacity, in accordance with the company’s policy and PTT Group’s that focus on business operations that are environmentally friendly and socially responsible, as well as continually elevate local economies and promote education with good governance adherence that ensures readiness to become a company in the Dow's Sustainability Indices (DJSI) by 2022.