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).
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
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