GPSC Completes Acquisition of 595MW Wind Farms in Taiwan

Global Power Synergy Public Company Limited (SET: GPSC) reported on Monday that it has completed the conditions precedent of the Share Purchase Agreement of an offshore wind power project in Taiwan and now owns twenty-five percent of both CI Changfang Limited and CI Xidao Limited (Target Companies).

PTT group’s power flagship has announced the investment of an offshore wind power project in Taiwan with a total investment of around USD500 million on July 14, 2021.

The target companies are the developer of offshore wind power projects in Taiwan with a total capacity of 595 megawatts, consisting of the Changfang Project and the Xidao Project which has a capacity of 547 megawatts and 48 megawatts, respectively. The project is under construction and expected to be fully operational within the 1st quarter of 2024.