SET-listed Global Power Synergy (GPSC) is planning to expand its renewable energy investment in India, which is promoting greater use of clean energy.
The Indian government has a clear policy to promote renewable energy, aiming to increase renewable power generation capacity by 45,000 megawatts annually until 2030, said Sirimet Leepagorn, president and acting chief operating officer of GPSC.
If renewable power continues to increase as planned, India’s total capacity is expected to reach 500,000MW in 2030.
“This means there will be more opportunities in the renewable energy business in India,” said Mr Sirimet.
GPSC intends to seek new business opportunities in addition to investment through Global Renewable Synergy, which holds a 39.90% stake in Avaada Energy Private Ltd.
Avaada operates renewable energy businesses in several Indian states and has a total committed power generation capacity of 20,558MW.
Of the total committed capacity, 6,000MW is in commercial operation, with the remaining capacity scheduled to come online within 24 months.
GPSC is also exploring investment opportunities in businesses related to the data centre industry in India, focused on providing clean electricity to data centre operators.
No conclusions have been reached yet, as negotiations with local partners are underway to explore feasibility, Mr Sirimet said.
“Data centres in India require renewable power supply,” he said, adding that the campaigns aimed to reduce carbon dioxide emissions play a key role in determining what fuels should be used to produce electricity for computer server farms.
“If our study proves feasible, we will then consider entering the data centre ecosystem,” said Mr Sirimet.
In Thailand, GPSC is eager to join the state’s direct power purchase agreement (PPA) scheme, which enables data centre operators to directly purchase electricity from power firms.
Several data centre operators have contacted GPSC, expressing an interest in purchasing clean power from the company, he said.
The Energy Regulatory Commission earlier announced that the authorities plan to launch a pilot direct PPA scheme, with a total power generation capacity of 2 gigawatts, by December 2025.