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RATCH invests THB260 million to acquire entire stakes in Mount Emerald wind farm, Australia

NonthaburiRatchaburi Electricity Generating Holding Public Company Limited today reported that RATCH-Australia Corporation Ltd. (RAC), a subsidiary (holding 80% equity) located in Australia, recently acquired additional 50% equity of Mount Emerald Wind Farm Pty from Port Bajool Pty Ltd., with a value of AUD10 million or approximately THB260 million. As a result, RAC owns the entire stakes in Mount Emerald Wind Farm Pty, a developer of 180-MW Mount Emerald wind farm.

Mr. Rum Herabat, RATCH CEO, said that RAC and Port Bajool Pty Ltd., a partner of Mount Emerald Wind Farm Pty, entered into the share purchase agreement on June 28, 2016. Thus, Mount Emerald Wind Farm Pty was wholly owned by RAC, allowing us to gain more incomes and earnings. In addition, RAC’s capacity now increases to 654 megawatts.

“The Mount Emerald wind farm development by RAC has progressed consecutively. It was approved by relevant authorities in November 2015 and successfully agreed in the 13-year power purchase agreement (PPA) with Ergon Energy --the state-owned enterprise of Queensland who will purchase electricity and Green Energy Certificates produced by the project until 2030. The transaction does not only strengthen RAC’s financial position, but also extend our renewable business where Australia is our main investment destination. To date, RATCH's equity renewable capacity in Australia reaches 198 megawatts from RAC's four wind farms. In addition, RAC has other two renewable projects in development pipeline, including a wind farm and a solar farm, with combined capacity of 232 megawatts.” Mr. Rum said.

The AUD380-million Mount Emerald wind farm (equivalent to THB9.5 billion baht), is located on 2,400-hectare land in the north of Queensland, Australia. The project construction will install 53 wind turbines, with 3.45 megawatts each. The wind farm expects to be completed and commercially operated in 2018. Consequently, RATCH’s equity capacity increases to 6,957 megawatts.

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