Mitihoon – GPSC’s financial resilience and strong business performance have been reflected in Fitch Ratings’ affirmation of the Company’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-’ and National Long-Term Rating at ‘A+(tha)’, both with a Stable Outlook. The affirmation highlights GPSC’s position as Thailand’s leading private power producers with resilience and sustainable structure.
Ms. Panporn Sasananan, Chief Financial Officer of Global Power Synergy Public Company Limited, or GPSC, the innovative power flagship of PTT Group, said the rating affirmation and Stable Outlook reflect Fitch Ratings’ confidence in GPSC’s strengths including stable cash flow, investment discipline, and long-term growth potentiality.
“To achieve balanced and sustainable growth, GPSC focuses on portfolio management together with the expansion in clean energy. This rating affirmation has been assessed by the strength of business structure and Fitch Ratings’ confidence in GPSC’s strategic direction and business performance. GPSC is actively pursuing strategic investment opportunities both conventional and renewable energy to support a sustainable energy transition” Ms. Panporn said.
Fitch Ratings’ affirmation emphasizes GPSC’s resilience of business structure such as secured long-term power purchase agreements (PPAs) with highly creditworthy counterparties including Electricity Generating Authority of Thailand (EGAT) and PTT Group companies, supporting stable revenue and long-term cash flow visibility. Fitch Ratings also views Avaada Energy Private Limited’s (AEPL) expansion as a key driver in increasing renewable energy portfolio and earning growth to GPSC driven by 22,000 megawatts renewable portfolio in pipeline with diversified geographic. Additionally, AEPL has plan of fund raising in India’s capital market within the next 1-2 years.
GPSC commits to sustainable business growth, good corporate governance, comprehensive risk management as well as Environmental Social and Governance (ESG) practices. These reinforced confidence of investors, shareholders, and stakeholders, position GPSC in driving the transition toward cleaner energy.
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