March 30 (Renewables Now) - Thai energy producer Global Power Synergy PCL (BKK:GPSC) has signed a deal to acquire the holding companies for nine solar power facilities with a combined capacity of 39.5 MW.
Specifically, the company has agreed to take over NPS Star Group Co Ltd, World X Change Asia Co Ltd, PP Solar Co Ltd and TerraForm Operating (Thailand) Co Ltd.
These firms hold plants located in Phichit, Suphanburi, Lopburi and Khon Kaen province that sell electricity under a 25-year contract with Provincial Electricity Authority (PEA). The existing power purchase agreement (PPA) will run until 2039-2040, according to the announcement.
The company entered into the purchase agreement through its 100%-owned unit Global Renewable Power Co Ltd (GRP). It did not disclose the value of the transaction.