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RATCH and Chow Group hold ground breaking ceremony of Iwaki solar project in Japan for commercial operation in 2016, Joining hands to expand investment into Japan and ASEAN region

Bangkok – Ratchaburi Electricity Generating  Holding Public Company Limited (RATCH) and Chow Steel Industries Public Company Limited (Chow Steel Group) recently held a groundbreaking ceremony for their 22.68 MW joint-venture solar farm project in Iwaki, Fukushima Prefecture, one of their two joint-venture  projects in Japan, after entering into an EPC Agreement valued at more than JPY7 billion or around THB2 billion.

Mr. Pongdith Potchana, Chief Executive Officer of RATCH, revealed that the 33-MW joint-venture Iwaki and Ueda solar farm projects marked the first milestone of business expansion into Japan, where solar energy generation is regarded as a promising business due to the Japanese Government’s feed-in-tariff (FIT) policy. The company aims to expand its investment to around 200 MW for enhancing the enterprise value. The partnership synergy between RATCH and Chow Steel Group is another important strategy that helps increase our competitiveness in regional arena. Both companies intend to jointly invest in phase 2 of solar projects in Japan, as well as seek other investment opportunities in ASEAN region.

Mr. Anavin Jiratomsiri, Chief Executive Officer of Chow Steel Industries Public Company Limited or Chow Steel Group, announced that construction of the Iwaki solar farm project will be concurrent with the construction work of the Ueda solar farm project. The commercial operation dates (COD) of both solar farms are scheduled for the end of 2016, as planned. The collaboration with RATCH, with its extensive experience in energy investment locally and internationally, would enhance the growth potentiality and financial strength of the two projects.   Mr. Anavin was confident that other synergies between two companies would be seen in the near future.

After the joint-venture agreement to invest in solar farms in Japan was signed, Chow Steel Group and RATCH decided to develop the 22.68-MW Iwaki solar farm project in Fukushima Prefecture for the first project, followed by the 10.8-MW Ueda solar farm project in Nagano Prefecture. Both projects have been secured by 20-year capacity made with local major off-takers, with JPY40 feed-in-tariff (FIT)/kWh (excluding consumption tax) from the Japanese Government. In addition, CODs for both projects are scheduled in 2016.

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Mr. Pongdith Potchana (third from left) Chief Executive Officer of RATCH; Dr. Pruchya Piumsomboon (second from left), Chief Executive Officer of Chow Steel Industries PCL; together with executives from both groups, participated in a ground breaking ceremony for the 26.68-MW Iwaki Solar farm project in Fukushima Prefecture. This is one of two joint-venture projects in Japan between RATCH and Chow Steel Group, with total capacity of 33 MW.

From the picture

  1. Mr. Pongdith Potchana, Chief Executive Officer, Ratchaburi Electricity Generating Holding Public Company Limited (third from left)
  2. Dr. Pruchya Piumsomboon, Chairman of the Board of Directors, Chow Steel Industries Public Company Limited (second from left)
  3. Mr. Kriengrit Jiajanpong, Chief Business Development Officer 2, Ratchaburi Electricity Generating Holding Public Company Limited (far left)
  4. Mr. Somnuk Jindasup, Chief Asset Management Officer, Ratchaburi Electricity Generating Holding Public Company Limited (second from right)
  5. Mr. Anavin Jiratomsiri, Chief Executive Officer, Chow Steel Industries Public Company Limited (far right)
  6. Mr. Narongsak Kamales, Chairman of the Board of Directors, Chow Energy Co., Ltd. (third from right)

RATCH’s info in brief

Ratchaburi Electricity Generating Holding Public Company Limited (RATCH) is a leading Independent Power Producer in Thailand, with investment mainly focusing on fossil fuel power generation projects and renewable projects at home, international projects as well as businesses adjacent to electricity generation and energy, such as providing power plant operation and maintenance services to power plants, coal mining, transmission system, fuel sourcing etc. Currently, its total equity capacity reaches 6,578 MW from both commercially operated ones and projects under development and construction, which can be divided based on investment structure into 4,876.40 MW from IPPs and SPPs in Thailand, 75.59 MW from domestic renewable energy projects and 1,626.13 MW from international projects. The company aims to increase enterprise value to THB282 billion, or equal to 9,700 MW by 2023 from the current enterprise value of THB 120.244 billion.

CHOW Steel Group’s info in brief

Listed on mai, Chow Steel Industries Public Company Limited or CHOW Steel Group is Thailand’s major producer of steel billets, with quality that meets internationally standards. The steel billets can be rolled into long products such as round bar and deformed bar in order to use as main construction material for home, commercial building, bridge, dam, flyover and skyscraper building.

CHOW’s factory located in Kabinburi Industrial Estate, Prachinburi province, has received the investment promotion from Board of Investment (BOI). The maximum production capacity is 730,000 tons per year, with production capacity during off-peak period of 450,000 tons per year. In addition, CHOW began to enter into renewable energy business in 2013.

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