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RATCH Group joins hands with Nexif Energy to invest the 80-MW wind farm project in Vietnam, commencing generation in 2021

Nonthaburi: RATCH Group Public Company Limited proceeds its further investment in renewable energy projects in the Socialist Republic of Vietnam. The Company recently marks the success after the signing of the Joint Development Agreement to develop the 80-MW Nexif Ben Tre Wind Power Plant. RH International (Singapore) Company Limited, a wholly owned subsidiary, has joined force with Nexif Energy Group to jointly invest in developing a near-shore wind farm project, located to the south of Ho Chi Minh City. Accordingly, it will acquire a 50% stake in Nexif Energy Ben Tre Company Limited as the project developer.

Mr. Kijja Sripatthangkura, RATCH Group Chief Executive Officer stated that the joint-venture development of this wind power project is an extended collaboration with Nexif Energy Co., Ltd. which is the Company’s existing business partnership. The two companies previously engaged in the development of the Nexif Energy Rayong combined-cycle power plant in the past second quarter. It is recognized as one of the target investment projects following by the Company’s overseas investment plan this year. The Company has successfully negotiated and entered into a Joint Development Agreement to develop a wind power plat project on December 4. The project is currently under development and negotiating on the relevant contracts. The construction period is expected to take approximately 18 months, with commercial operation scheduled in October 2022 with aim to distribute electricity generation to Vietnam Electricity Group (EVN) under long-term power purchase agreement. This is the sixth new investment project of the Company this year affecting the Company’s newly investment capacity to 283 megawatts and thrust the total installed capacity to 8,755 megawatts.

“ For the 2020 Company’s investment strategy, it focuses on expanding investment and growth by acquiring Brownfield for immediate revenue recognition and continuing invest on Greenfield power plant projects by extending collaboration with existing business allies and new partners to pursue further investment opportunities. This year, the Company has made the progress on investment and successfully negotiated for several deal closing that includes 3 domestic projects and penetrating the new market like Vietnam for additional 3 projects. Two of there 3 projects are wind power plants in respond to the Company’s renewable energy investment goals which aims to expand its capacity to 2,500 megawatts by 2025,” Mr. Kijja added.

The 80-MW Nexif Ben Tre wind power plant is a near-shore wind farm, located in Thanh Phu district, Ben Tre province, a 160 KM away to the south of Ho Chi Minh City. The project was awarded a long-term power purchase agreement with Vietnam Electricity (EVN).

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