GPSC Dissolves ‘Helios 5’ to Minimize Administrative Costs

Global Power Synergy Public Company Limited (SET: GPSC) has announced that Board of Directors Meeting No. 9/2023, which was convened on July 25, 2023, approved the dissolution of a subsidiary of the company, namely Helios 5 Company Limited (Helios 5), in which the company holds 50%. The dissolution of Helios 5 aims to minimize administrative costs since the project of the subsidiary was not selected under the Energy Regulatory Commission (ERC)’s regulations and announcements according to the ERC’s notification on September 30, 2022 regarding the purchase of electricity generated from renewable energy sources under the Feed-in Tariff (FiT) scheme 2022 – 2030 for the power plants with no fuel costs B.E. 2565 (2022). 

GPSC noted that the dissolution of the subsidiary has no impact on the company’s strategic plan to support local investment expansion. The company continues to pursue the opportunity for the future renewable bidding to support the business growth in Thailand.