Auttapol Rerkpiboon, PTT’s CEO, said:
- The acquisition will give PTT additional renewable generating capacity of 3,744 megawatts
- The deal expands our renewable energy portfolio, according to the renewable energy target of 8,000 MW in 2030 for the group
- PTT has a current renewable power capacity of 2,145 MW
- This investment in India will support the policy of the country, which encourages investment in renewable energy in many forms
PTT will be able to cut its greenhouse gas emissions by about 4.3 million tons of CO2
equivalent per year as a result of this purchase.
In addition, by 2025, Avaada also intends to grow its renewable energy business capacity to 11,000 MW.
The government of India has set a policy to support the investment in clean energy, with the goal to expand the electricity capacity of renewable energy from 73 gigawatts to 450 gigawatts by 2030.
PTT considers India as one of the focus countries for its renewable energy business expansion.