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RATCH moves forward 180-MW wind farm project in Australia, after Development Approval granted, THB 1,163 million profits recorded in Q1/2015

Nonthaburi: Ratchaburi Electricity Generating Holding Public Company Limited (RATCH) reported that its 180-MW Mount Emerald wind farm project located in Queensland, Australia, has finally been given the Development Approval by Queensland relevant regulatory agencies in late April. The said approval will allow the company to continue project development officially. For operating performance of the first quarter in 2015 (January – March 2015), RATCH recorded a profit of THB 1.16 billion.

Mr. Pongdith Potchana, Chief Executive Officer of RATCH, said that the recent development approval on Mount Emerald wind farm was another important step in expanding renewable energy business in Australia in response to the corporate ultimate goal and strategy. RATCH-Australia Corporation Limited (RAC), its subsidiary, has invested in 50% equity stake of the AUD380-million project, (equivalent to THB9.5 billion). It is now seeking negotiation with potential electricity buyers for the project. Once finalized, construction would be started and estimated completion within two years. The Mount Emerald project will be entitled to RATCH's fourth wind farm in Australia which enables to create approximately additional THB6.2 billion enterprise value to the company.

“Australia is one of our established operation base creating enterprise value of THB15billion. Based on RATCH’s long-term strategic plan, our focus in Australia is mainly on renewable energy business especially wind farms that there are abundant attractive and potential opportunities due to the government’s promotion policy. At present, RAC operates three wind farms, with total installed capacity of 54 megawatts. If the Mount Emerald project is completely succeeded, our wind power capacity as per equity holding in Australia will reach 144 megawatts. In addition, RAC is now conducting development for another 200-MW project,” Mr. Pongdith added.

In the first quarter of 2015, the company recognized total revenues of THB16.03 billion, divided into THB15.3 billion from domestic IPPs & SPPs, THB130.43 million from domestic renewable power operations, THB487.24 million from international power productions and THB 114.08 million from other businesses. The profit of the quarter was THB1.16 billion. As of 31 March 2015, the company booked THB98.56 billion total assets. In 2015, RATCH targets its enterprise value to THB133 billion, increasing 10% from 2014.

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