Songkhla: GPSC has leased land from IRPC in Songkhla, preparing to invest in a solar farm with a contracted power generation capacity of 74.88 megawatts. The Board of Directors of Global Power Synergy Public Company Limited (GPSC) announced that at its meeting on February 11, 2026, the Board approved a related party transaction involving IRPC Clean Power Company Limited ('IRPCCP'), a subsidiary in which GPSC holds a 51% stake, for the lease of land from IRPC Public Company Limited (IRPC) totaling 716 rai 3 ngan 83 square wa in Na Thap Subdistrict, Chana District, Songkhla Province. The lease agreement has a term of 30 years and a total contract value not exceeding 400.87 million baht (excluding land and building tax). The lease rate is considered fair value, based on market prices and assessed by an independent appraiser.
According to Thai News Agency, the lease of this land is for the purpose of developing IRPCCP's ground-mounted solar power project with a contracted power purchase agreement (PPO) capacity of 74.88 megawatts, as per the announcement of the Energy Regulatory Commission (ERC) regarding the list of selected applicants for additional power generation under the ERC's regulations on the procurement of electricity from renewable energy sources in the form of Feed-in Tariff (FiT) for the years 2022-2030, additional round. The Board of Directors of IRPC (the lessor) approved this transaction on December 18, 2025, and the Extraordinary General Meeting of Shareholders of IRPCCP (the lessee) approved the land lease on February 12, 2026.