RATCH Group focuses Australia, Vietnam and the Philippines

Editorial Staff

RATCH Group focuses Australia, Vietnam and the Philippines for pursuing greenfield and operating power plants’ acquisition

RATCH Group Plc has been striving for sustainable business growth this year by focusing mainly on investment in existing and new projects in Australia, Vietnam, and the Philippines.

Ms. Choosri Kietkajornkul, chief executive officer of RATCH Group, said that the company continue to drive its investment plan in power business in Australia, Vietnam, and the Philippines, in which ten power projects in total, both new projects have been conducted feasibility study and pipelined projects have been ongoing developed.

The company also pays attention to manage the under-construction power plant projects with total 2,918.23-megawatt equity capacity to be completed and operated on schedule as specified in the power purchase contract, which will gradually generate revenue to the company from 2024 to 2033.

In 2024, the company will realize additional commercial production capacity of 459 megawatts consisting of Hong Kong combined cycle power plant, Block 1 with 392.70-megawatt equity capacity, the REN power plant, the new Sahacogen power plant, and the phase-3 expansion project of Nava Nakorn Electricity power plant.

The project’s liquefied natural gas fuel has been secured after the Hong Kong Power Holding Company Limited signed a 3-year liquefied natural gas purchase contract with Gunvor Singapore Pte. Ltd., with a supply of 0.5 million tons annually. The first delivery will be made in March next year.

“Australia is considered as significant renewable energy business base driven by RATCH-Australia Corporation Pty Ltd, its subsidiary. The company sees investment potential and opportunity in renewable energy projects and development of new business related to power supply for supporting reliability and stability of the national electricity grid during the period of Australia’s energy transition towards net emission zero goal in 2050.” Said Ms Choosri.

In the Philippines, the company moved forward the development of projects in pipeline including the Negros solar power project expecting to begin construction in 2024, the offshore wind project in San Miguel Bay, and the offshore Luciana wind farm project on Luzon Island, which construction phase would start in 2025.

For future direction, the company still focuses on electricity generation as the core business for creating consistent growth by driving progress of the under-development projects in Vietnam, the Philippines, and Australia, extending new markets particularly in developed countries and balancing greenfield investment and merger and acquisitions in order to stabilize the company's cash flow and income.

The company aims to increase around 700-megawatt capacity annually while efficiency of cash flow, cost and expense management will be paid more attention to achieve the EBITDA target of 12 billion baht.