Mr. Sirimet Leepagorn, President and Acting Chief Operating Officer of Global Power Synergy Public Company Limited (SET: GPSC), stated that the company is currently in negotiations with partners from both China and Europe to acquire stakes in SMR (Small Modular Reactor) power plant projects that have already commenced commercial operation (COD) overseas.
Initially, the company will acquire a relatively small shareholding to study SMR technology and prepare personnel. Clarity on this matter is expected within this year.
SMR power plants are a clean energy technology that can meet the country’s electricity demand steadily, helping reduce carbon emissions and aligning with the Net Zero 2050 goal. According to Thailand’s previous power development plan (PDP), the total SMR power generation capacity was set at 600 megawatts by 2037, with the Electricity Generating Authority of Thailand (EGAT) designated as the project operator. It is expected that the new PDP will increase the SMR proportion and allow private sector investment in such power plants in the future.
Mr. Sirimet added that the company also has plans to invest in the Data Center business both in Thailand and India. In Thailand, some of the company group’s power plants will see their power purchase agreements (PPA) with EGAT expire, making them available for Data Center customers; for example, the GSPP11 power plant (120 megawatts) and the GIPP power plant (677 megawatts). Currently, 6 to 7 data center clients are in negotiations with the company.
Regarding Avaada Energy Private Limited (AEPL), a subsidiary of the Avaada Group — a leading renewable energy provider in India — for an initial public offering (IPO), details are being prepared. However, the timing of the listing on the Indian stock exchange will depend on market conditions, with the original plan targeting 2027. GPSC currently holds a 39.90% stake in AEPL, while Avaada Venture Private Limited (AVPL) holds 60.10%.
Additionally, GPSC continues to expand investment both domestically and internationally, particularly in Lao PDR, Taiwan, and India. For Laos, the company is studying an investment in a wind power plant project in Savannakhet with a capacity of several hundred megawatts. The company’s partner, Copenhagen Infrastructure Partners (CIP), is currently measuring wind volume in the area. The company aims to hold more than 50% stake in this project.
Ms. Sukittee Chairak, Senior Vice President of Corporate Finance and Investor Relations at GPSC, noted that the company’s 5-year investment budget (2026-2030) is set at THB 33.43 billion. This does not include future strategic plans for investment and use of assets. New investments will proceed via four company strategies. In addition, there is over THB 80 billion in investment management set to generate further cash flow.
Meanwhile, the group’s New S-curve business is focusing on Data Center ventures in Thailand and India. For Thailand, the company will serve as both an electricity supplier and a business partner to Data Center developers, using power plants whose contracts with EGAT have expired for this purpose.
There are currently 3-4 joint development projects with partners in progress, with a total capacity of 1,000 megawatts. The first project is expected to see clarity within this year, with an initial capacity of at least 300 megawatts. For Data Center investment in India, GPSC will engage in platform-based investment, starting with no more than 50 megawatts and aiming to expand to 300 megawatts within the next 3–5 years.
