Investing in Japan
Latest UpdatesThai Global Power Synergy builds mega solar plant in Ichinoseki, Iwate
May 09, 2018
Global Power Synergy Public Company Limited (GPSC) is a power generation company in Thailand. A major shareholder of GPSC is the leading Thai conglomerate, Petroleum Authority of Thailand PLC (PTT), a fully integrated petroleum and petrochemical company. Prior to its official establishment as GPSC in 2013, the company had accumulated extensive experience, especially in conventional gas-fired power plants, serving industrial clients. Since then, its portfolio has grown well diversified with investments in Thailand, Laos PDR and Japan. In 2015, the company got listed on the Stock Exchange of Thailand (SET). Recently, GPSC plans to set up a lithium-ion battery manufacturing plant in Thailand, and is aggressively expanding in the energy sector.
GPSC established the Ichinoseki Solar Power 1 GK Joint Company in Tokyo in June 2014 to conductsolar power business in Japan, a project of which it has 99% ownership. Ichinoseki Solar Power 1 GK started commercial operation of a large-scale solar power plant in December 15, 2017 with a capacity of 25.9 megawatts, located in Hagishou Ichinoseki, Iwate. Its representative office was also established in Ichinoseki and the company has been exploring a second phase of investment.
In June 2016, Thai Ambassador Bansarn Bunnag paid a courtesy visit to Ichinoseki, where he addressed "I want the company to become a bridge between Thailand and Japan." GPSC has taken part in a project established by the city, "Resources and Energy recycling-based City Planning Vision of Ichinoseki city," in which the company has promoted the use of natural energy such as sunlight. The construction of the solar power plant has drawn attention as an important project in building economic relations and friendly ties between two countries.
For its establishment of Japanese base, the JETRO Invest Japan Business Support Center (IBSC) provided consultation on establishment of a base (registration/visa, tax, and labor matter), information on licensing by experts, market information, service providers (administrative scrivener), arranged interviews with industry associations as well as related organizations, introduced local governments and supported business matching.