ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

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

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).

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more