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Energy

Thai oil major PTT takes $453m stake in Indian solar power company

Group is expanding renewable generating capacity in overseas markets

PTT's purchase of Indian renewable power generating company Avaada Energy marks a big step in its expansion in the country. Analysts say the oil and gas producer needs more assets abroad.   © Reuters
APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writer | Thailand

BANGKOK -- Global Power Synergy Public Company (GPSC), the power-generation arm of Thai oil and gas conglomerate PTT, has purchased a 41.6% stake in Indian renewable power producer Avaada Energy for 14.8 billion baht ($453 million).

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