PTTEP to acquire a minority stake in the Seagreen Offshore Wind Farm for £522m.

PTTEP, a national petroleum exploration and production company dedicated to providing a sustainable petroleum supply, agreed to acquire a minority stake in the Seagreen Offshore Wind Farm, a wind farm located in the North Sea, approximately 27 kilometers off the coast of Scotland, for £522m. “The successful investment in the Seagreen Offshore Wind Farm project marks a significant step for PTTEP in diversifying into the high-growth potential clean energy sector. This aligns with the company's strategic plan to venture into New Business for Energy Transition. The company will leverage our expertise in E&P offshore project management, building upon existing partnerships to collaborate on the project. Meanwhile, PTTEP will be able to gain valuable experience in offshore renewable energy and be ready for further investments in clean energy business. This investment entails low-level risks as it is in the operational phase, with stable cashflow, works in partnership with global experienced players and is in the country with supportive policies to propel continuous development of the offshore wind market.” Montri Rawanchaikul, PTTEP CEO.