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RATCH Group joins forces with NNCL & PEA ENCOM develop BHT 2.176-billion IPS project serving industrial users in Nava Nakorn Industrial Zone, Nakorn Ratchasima

Nonthaburi: RATCH Group Company Limited announced collaboration with Nava Nakorn Public Company Limited (NNCL) and PEA ENCOM International Company Limited (PEA ENCOM) in developing the BHT2.176-billion Cogeneration Independent Power Supply Project (IPS) with 40 megawatt capacity. On 27 March, the three parties entered into the Shareholder Agreement to form the joint operating entity that RATCH Group takes 40% shares proportion, NNCL 35% and PEA ENCOM 25%.

Mr.Kijja Sripatthangkura, RATCH Group Chief Executive Officer, disclosed that the project is developed in a form of a cogeneration Independent Power Supplier to generate electricity and stream and directly sell to and serve the demand of the industrial users in Nava Nakorn Industrial Zone in Nakorn Ratchasima province, via grid network of Provincial Electricity Authority (PEA). The project consequently helps stabilize power system as a vital infrastructure for industrial sectors. The project expects commercial operation in July 2023.

“IPS project is regarded potential investment opportunity that tends to be greater in line with the government’s promotion in order to drive socio-economic development growth according to Thailand 4.0 agenda. The project location at Nava Nakorn Industrial Zone in Nakorn Ratchasima province, is high potential area due to a number of production bases of global companies. Following NNEG power plant located in Nava Nakorn Promotion Industrial Zone, Pratum Thani province, it is the second project RATCH Group joined hand with NNCL, a strategic partner specializing in industrial estate development. Also, it is the beginning of collaboration with PEA ENCOM International Company Limited, a PEA subsidiary focusing on investment power business. The company is confident that collaboration among three of us will bring about other investment opportunities in the future”, Mr. Kijja said.

In 2020, RATCH Group targets 780-megawatt generation capacity increase. The project is one of this year investment targets same as to the 92-MW Nexif Cogeneration SPP project in Rayong acquired 49% shares by RATCH in 19 March 2020.

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