RATCH grows its renewable portfolio in Australia--driving 2 solar farm investment valued BHT 6.9 billion

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bangkok: Ratchaburi Electricity Generating Holding Public Company Limited (RATCH) extends its renewable business in Australia by investing in 53 megawatts of two solar farms through RATCH-Australia Corporation Limited, a 80% equity owned subsidiary. The investment will cost 6.9 billion baht approximately.

Mr. Pongdith Potchana, Chief Executive Officer of RATCH said that the development of two solar farms in Australia is to replace Collinsville coal-fired station which was shut its operation since last June. The redevelopment of Collinsville location will create more value to the company eventually. Development of the two projects with 53 megawatts in total has significantly progressed. The 23 megawatt Collinsville Solar PV has been granted development license and proceeding selection of engineering procurement contractor. It plans to operate commercially in 2015. The 30 megawatt Collinsville Solar Thermal has received 75 million baht (2.5 million Australian dollars) financial support from the Australian government to conduct feasibility study and expects additional subsidy from the government to make it commercial worthiness and become a prototype of solar thermal technology in Australia. The project will be developed in 2015 and complete for operation in 2017.

Mr. Pongdith added that "RAC, a subsidiary in Australia, is a developer of the two projects and it is regarded as a RATCH’s substantial income generating base contributing and strengthening the Company’s growth. Australia is a potential market where the Company sees more investment opportunities particular in renewable segment in wind and solar power. It is because the Australian government aims to increase electricity capacity from wind and solar power sources to 20% of total capacity in 2020. The 6.9 billion baht project cost of the two solar farms has been ready for funding and financing. They will increase RAC’s capacity to 870 megawatts and RATCH’s renewable capacity will be boosted to 209 megawatts representing 3.3% of its total 6,303 megawatts".

RATCH has successfully entered into Australia in 2011 by acquiring 80% equity of Transfield Services Infrastructure Fund (TSI) that was later renamed RATCH-Australia Corporation Limited (RAC). At present, RAC owns 7 power plants consisting of 3 gas-fired power plants with 569 megawatts in total, a 180 megawatt coal-fired plant, and 3 wind farms of total 68 megawatts. The Collinsville coal-fired plant closed its operation since June 2013 and RAC has planned to develop the Collinsville Solar PV and the Collinsville Solar Thermal in the area. In addition, there have been feasibility study and development of two wind farms and conclusion will be made soon.

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