Nonthaburi- RATCH Group Public Company Limited announced its investment in the operating 30-MW Minh Luong hydroelectric power plant in Lao Cai province, Vietnam. The 100% stake acquisition from Nam Tien Group has been completed on 29 December 2023 through NEXIF RATCH Energy Investment Pte. Ltd. (NREI), its 49% equity owned joint venture valued at USD 25 million, or equivalent to THB 860 million. This run-of-river hydroelectric power plant has commercially operated in 2018 with electricity generation approximately 103.15 GWh per year purchased by Vietnam Electricity Authority under a 20-year power purchase agreement.

Ms. Choosri Kietkajornkul, Chief Executive Officer, RATCH Group Public Company Limited, stated that the investment demonstrated progress in expanding the Company's business base in Vietnam, driven by NREI, a collaboration between the Company and Nexif Energy, which has insightful experienced and expertise in power business in ASEAN and Asia Pacific. The Company will realize 14.7 MW capacity from these acquisitions, which will enhance indirect revenue and renewable energy capacity to 2,947.93 MW, accounting for 27.24% of total capacity.

“RATCH Group has currently driven development and investment in Vietnam through NREI which its pipeline includes 12 MW under- construction hydroelectric power plant, and five under-development solar and wind power projects with around 520 MW capacity in total. When all these pipe-line projects are successfully developed and constructed, the Company’s renewable portfolio will become closer to 30% of total capacity by 2030 goal,” Ms. Choosri said.

After the Minh Luong project investment, the Company’s committed capacity in Vietnam increased to 266.19 MW of equity capacity comprising 136.71 MW fired by fossil fuel and 129.48 MW from renewable sources.