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RATCH Group first step entrance in Vietnam, concluded wind farm deal, to start generation in September 2021 under 20-year PPA

Nonthaburi: RATCH Group Public Company Limited disclosed business venture progress in Vietnam following the negotiation for a joint-venture in USD45-million Thanh Phong Wind Power Plant with 29.70-megawatts capacity accomplished. Recently, RH International (Singapore) Corporation Limited, a wholly-owned subsidiary, has joined force with Asia Investment, Development and Construction Sole Co., Ltd. (AIDC) in forming RATCH & AIDC Wind Energy Pte. Ltd. to invest in Thanh Phong Wind Power Plant project in Vietnam where RATCH holds 51% shares in the project.

Mr. Kijja Sripatthangkura, RATCH Group Chief Executive Officer stated that the Thanh Phong Project marks our debut in Vietnam. It is also a significant cooperation extension with AIDC, the existing business partner in Laos PDR, who has invested in several renewable energy projects in Vietnam. This project is scheduled to commence operation in September 2021 and the construction will take approximately 12 months.

“According to the company’s strategic plan, Vietnam is placed as a potential destination due to its continuous economic development and growth. In spite of the COVID-19 pandemic affecting most of Asian countries, Vietnam’s economic growth is still increasing thanks to its quick response and alleviation keeping the disease spreading under control. The Vietnamese government also has clear policy on promotion of renewable energy and foreign investment in a Public-Private Partnership scheme offering us vibrant opportunity for investment expansion, particularly power plant project, an essential infrastructure for industrial development and living quality enhancement. The company is committed to long-term investments in Vietnam and willing to take a part in supporting security of power grid of Vietnam,” Mr. Kijja said.

Thanh Phong project is an onshore wind farm located in Ben Tre province, south of Ho Chi Minh City. The project was granted a 20-year power purchase agreement with Vietnam Electricity (EVN).

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