In a strategic move toward sustainable business expansion, RATCH Group Public Company Limited has intensified its focus on investments across existing and new projects in Australia, Vietnam, and the Philippines throughout this year. Notably, the company has diversified its interests beyond the power sector, delving into future fuel ventures like hydrogen fuel. Currently, the negotiation phase is underway for two projects expected to conclude by year-end, enhancing the company’s quest for consistent cash flow and income.
Ms. Choosri Kietkajornkul, the Chief Executive Officer of RATCH Group, emphasized the company’s unwavering commitment to its investment agenda within the power sector across these regions. With a total of ten power projects in the pipeline, encompassing both ongoing feasibility studies and developmental phases, the company is diligently steering its course. There’s an acute focus on managing under-construction power plants, totaling an equity capacity of 2,918.23-megawatts, ensuring timely completion aligned with power purchase contract specifications. This meticulous approach anticipates revenue generation from 2024 to 2033.
In 2024, RATCH Group foresees an increase in commercial production capacity by 459 megawatts, including the Hin Kong combined cycle power plant Block 1, the REN power plant, the new Sahacogen power plant, and the phase-3 expansion of the Nava Nakorn Electricity power plant. The commercial operation of the Hin Kong power plant Block 1, boasting an equity capacity of 392.70 megawatts, is slated to commence in March 2024, supported by a secured liquefied natural gas supply contract signed with Gunvor Singapore Pte. Ltd.
Australia emerges as a pivotal hub for renewable energy endeavors under RATCH-Australia Corporation Pty Ltd, as the company keenly identifies investment prospects aligned with the nation’s energy transition goals towards net-zero emissions by 2050. Negotiations are underway to upgrade existing natural gas-fired power plants to support the national grid’s reliability amid this transition. Additionally, the company is actively developing solar, wind, and energy storage projects across New South Wales and Queensland, catering to the country’s clean energy strategies.
In Vietnam, the company is capitalizing on the 8th National Power Development Plan, eyeing investments in solar and wind power projects alongside acquiring operational power plants. Similarly, in the Philippines, RATCH Group progresses its pipeline projects, including solar and offshore wind endeavors, set to commence construction in the upcoming years.
Ms. Choosri emphasized the company’s commitment to fostering business growth, ensuring stable returns for shareholders and stakeholders, while concurrently fostering long-term societal and environmental benefits.
Looking ahead, RATCH Group maintains its focus on electricity generation as a core business, aiming for consistent growth through ongoing project developments in Vietnam, the Philippines, and Australia. The company seeks expansion into developed markets and plans to balance greenfield investments with mergers and acquisitions to bolster cash flow and income stability. Notably, the company eyes an annual capacity increase of approximately 700 megawatts, emphasizing stringent budget adherence and project efficiency while targeting an EBITDA of 12,000 million baht through enhanced cash flow and cost management strategies.
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