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RATCH Group announced commercial generation of Riau combined-cycle power plant in Indonesia, constantly realized revenues in the first quarter this year

Nonthaburi:   RATCH Group Public Company Limited (RATCH) today announced that the 296.23-MW Riau Combined-Cycle Power Plant has commercially operated since February 10, 2022 after receiving official confirmation letter from PT PLN (Persero), an Indonesian state-owned electricity generator and distributor. Riau Power Plant has been operated by PT Medco Ratch Power Riau (MRPR), in which 49% of its shares hold by RATCH and 51% by PT Medco Power Indonesia (MPI), a leading independent power producer of Indonesia. It annually dispatches 1,445 gigawatt-hours to PT PLN (Persero) in compliance with 20-year Power Purchase Agreement beginning from 2022 until 2042. The company constantly realizes revenues in forms of profit sharing from the MRPR in the first quarter of 2022 onwards.

Riau Power Plant located in Riau province in the central part of Sumatra Island has been developed under the Indonesia’s power development plan and power grid security enhancement in Riau region by diversifying generation mix in order to lessen greenhouse gas emission. Fired by natural gas regarded as clean burning fossil fuel, the Riau Power Plant with power supply of 1,445 gigawatt-hours per year enables to secure the power grid of Riau province and Sumatra by adding around 4% installed generation capacity in the region and serving demand of power users. 

Miss Choosri Kietkajornkul, Chief Executive Officer of RATCH Group Public Company Limited said that the company is delighted and appreciated MPI, our strategic partner, and relevant parties in pursuing achievement of the Riau Combined-Cycle Power Plant’s commercial operation amid the outbreak of covid-19. It has formally started generating electricity to PLN on February 10, which increased the company’s commercial capacity to 7,324.34 MW and revenues supporting RATCH’s financial strength.   

“The company continues our long-term commitment in taking a part in supporting Indonesia in developing electricity and power infrastructure for driving economic growth and enhancing people’s quality of living in the long run”, Miss Choosri added.

The eco-friendly designed Riau Combined-Cycle Power Plant was installed and equipped with high-efficient availability and reliable generation technology and internationally accepted and effective environmental quality management standard.

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