• Join force with CGN, a leading nuclear power producer, and GIG, a China’s leading investment company,  to develop 2,360-MW Fangchenggang nuclear power project phase II
• Earning dividend income for 30 years, enhancing steady cash flow and stable balance sheet over the long run, recognized from 2021
• Laying out business platform in China by partnering with CGN, a global clean energy company, to extend clean energy business portfolio.

Nonthaburi- Ratchaburi Electricity Generating Holding PCL.("RATCH") successfully joined venture with China General Nuclear Power Corporation (“CGN”) and Guangxi Investment Group Company Limited (“GIG”) on Fangchenggang Nuclear Power Project Phase II (Fangchenggang NPP Phase II), in China. All three partners signed the equity joint venture contract for establishing Guangxi Fangchenggang Nuclear Power (II) Co., Ltd. that will develop, carry out the construction, and operate Fangchenggang NPP Phase II. RATCH’s investment was conducted through RATCH China Power Limited, a subsidiary, with 10% shareholding. Meanwhile, CGN and GIG holds 51% and 39% respectively.

Mr. Rum Herabat, RATCH CEO, said this transaction marked a milestone of successful business expansion into China. Partnering with CGN, a leading nuclear power producer, we are ready to pursue potential investment in clean-energy projects in Thailand and ASEAN. Fangchenggang NPP Phase II is valued around THB200 billion (or CNY40 billion). RATCH will inject capital of THB7.5 billion in the project regarding to its share portion and dividend income expects to be recorded in 2021, under the 30-year power purchase contract.

“CGN’s world-class expertise and experience in nuclear power, with integrated range of nuclear power service is a major factor for RATCH’s investment decision making. It’s the fact that CGN presently processes 16 operating units of nuclear power plants, with the total capacity of 17.08  gigawatts (accounting for 60% of the entire capacity in China) and 11 units of under-construction plants, with the total capacity of 13.64 gigawatts (accounting for 50% of China’s capacity). It also owns clean energy facilities in China including hydroelectric power plants, solar farms, wind farms and natural gas, and invests in a number of nuclear power and clean energy projects in Europe and Asia. Additionally, RATCH takes into an account the social and environmental benefits to support our decision making. It is an opportunity for Thai technical personnel in developing and enhancing their skills and experiences by sharing nuclear-related knowledge and techniques with CGN, who have more than 30-year expertise in this field.Achievement and experience of CGN for low-carbon environment management is another area for learning because it is an importance for curbing climate change issue,” Mr. Rum added.

Fangchenggang Nuclear Power Project is regarded as a 6,000-MW mega project, which is divided into three phases for development. The Phase Icomprises of unit 1 and 2 which are already constructed and operated. The Phase II that RATCH partially involved comprises of unit 3 and 4, with 1,180-MW capacity each. The construction of Unit 3 has begun in December 2015 and expected to complete within 5 years. Importantly, the unit 3 of Phase II will be the first Chinese nuclear reactor installed with China’s innovated HRP1000 technology which is the country’s third nuclear reactor generation developed further from the widely used pressurized water reactor (PWR) technology. The HPR1000 is regarded as the world’s most advanced active and passive safety systems.

Fangchenggang Nuclear Power Project Phase II is located on Guangxi Autonomous Region, southern China and 45-kilometer far from Vietnam border. The electricity from this power plant, with 60-year plant life, will be distributed to the domestic off-taker under power purchase contract.