Global Power Synergy Public Company Limited (SET: GPSC) has signed a Joint Venture Agreement and established a joint venture company with Keppel EaaS (Thailand) Ltd. to operate the energy solutions business.
The company announced earlier today that its Board of Directors Meeting No. 8/2024 held on July 23, 2024 has resolved to approve that Combined Heat and Power Producing Co., Ltd. (“CHPP”), a wholly owned subsidiary of the company, signed a Joint Venture Agreement (JVA) and established a joint venture company with Keppel EaaS (Thailand) Ltd. (“KET”), a company with expertise and experience in district cooling, in which CHPP and KET hold 51% and 49% of the shares, respectively.
The registered capital of the joint venture company does not exceed THB 200 million. This establishment is for the operation of the energy solutions business under the model of Cooling as a Service (CaaS) by innovative energy management solutions covering both district cooling and retail cooling in the country.
In this regard, CHPP and KET entered into the Joint Venture Agreement (JVA) on August 13, 2024, and the establishment of the joint venture company is expected to be completed by the 4th quarter of 2024. This cooperation is in consistency with the S4 Strategy: Shift to Customer-Centric Solutions that the company and its subsidiaries have applied in the business of energy innovation solutions to increase efficiency in energy management with the goal of business development for sustainability.
In addition, the company has signed the Collaboration Agreement with Keppel Limited, Infrastructure Division to establish further cooperation and seek opportunities to develop Cooling as a Service (CaaS) businesses in Thailand and India, develop renewable energy projects in Southeast Asia and collaboratively develop EV charging platforms between Thailand and Singapore. Regarding this, the strengths and expertise of both parties shall be fully leveraged in order to boost up business development and enable both firms to continue growing in a sturdy manner.
