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RATCH invested BHT662 million for 49% equity of 92-MW Nexif Energy Power Plant in Rayong, commercial operation scheduled in April 2022

Nonthaburi - RATCH Group Public Company Limited (RATCH) announced its joint venture in a 92-MW Power Plant project, located in the SSP Industrial Park, Ban Khai district, Rayong Province. On March 12, 2020, RATCH Group and Nexif Energy Thailand B.V. entered the Share Purchase Agreement for subscription of 49% ordinary shares of NER Singapore Pte. Ltd., a shareholder of Nexif Energy Rayong Co., Ltd which is an developer of Nexif Energy Rayong Power Plant. The investment valued of USD 21 million, equivalent to approximately 662 million baht. The project already entered a 25-year firm-cogeneration Power Purchase Agreement (PPA) with Electricity Generating Authority of Thailand (EGAT) and completed project financing. The project construction is planned in April 2020 and commercial operation scheduled in April 2022.

Mr. Kijja Sripatthangkura, RATCH CEO, said that the joint venture with Nexif Energy, a leading power company in Singapore with investment portfolios in renewables and conventional power plant in Asia and Australia is a significant move of RATCH Group in establishing generation base in eastern region of Thailand enabling RATCH to support security of national grid and power supply of industrial sector in the region. Driven by team synergy of RATCH and Nexif Energy, the Nexif Energy Rayong project will surely be completed as target. Also, long-term partnership between RATCH and Nexif Energy is potentially developed further for collaboration in future projects because of their similarity of investment goals and market in Asia and Australia.

“Nexif Energy Rayong Cogeneration project is the company’s investment target in this year because it has been progressively developed and ready for construction in April this year. It also marks our first power station in eastern region providing RATCH access to extend investment in Eastern Economic Corridor, government investment promotion zone. The project will distribute 90 megawatts of electricity to EGAT and sell the remaining to industrial users in SSP Industrial Park. According to the 2020 business plan, the company foresees potential capacity expansion in response to future power demand of industrial customers as well. Further to this achievement, RATCH is moving forward to acquiring Brownfields and operating projects under 20 billion baht budget provision to achieve its 780-megawatt capacity target in 2020,” Mr. Kijja concluded.

In Thailand, RATCH Group Public Company Limited recorded equity installed generation capacity of 5,898.39 megawatts, accounting for 68% of its total generation capacity of 8,700.15 megawatts. Asides from Nexif Energy Rayong Power Plant, the 5th SPP cogeneration power plant, RATCH has joint investment in RATCH Cogeneration Power Plant (holding 99.97%), located in Pathumthani province), Ratchaburi World Cogeneration Power Plant (holding 40%) in Ratchaburi province, Nava Nakorn Electricity Cogeneration Power Plant (holding 40%) in Prathumthani province and Berkprai Cogeneration Power Plant (holding 35%) in Ratchaburi province.

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