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RATCH recorded THB7.772-billion profit up 23.6% in FY2021, incoming operating capacity of 1,377 MW boosting revenues in FY2022, while THB30-billion budget allocated for investment expansion

Nonthaburi: RATCH Group Public Company Limited announced that its 2021 operating results recorded 7.272-billion-baht profit, increasing 23.6% compared to 2020, representing earnings per share at 5.36 baht. In 2022, RATCH has set aside 30,000-million-baht investment budget for business expansion. Out of this amount, 28,000 million baht has been allocated for investment in power business, of which 26,500 million baht for acquiring new projects and 1,500 million baht for funding committed projects. The remaining of 2,000 million baht has been provisioned for non-power business investment, of which 1,400 million baht targeted for new deals and 600 million baht for committed transactions. Furthermore, the company aims to increase 700 MW capacity consisting of at least 450 MW conventional capacity and 250 MW renewable power. The target enables its equity capacity in 2022 to reach 9,800 MW.

RATCH will also realize incoming revenues from six power projects with total equity operating capacity of 1,376.89 MW consisting of 124.95 MW of Sahacogen Power Plants, 145.15 MW of Riau Combined Cycle Power Plant in Indonesia, 45.08 MW of Nexif RATCH Rayong Power Plant, 930.78 MW Paiton Thermal Power Plant in Indonesia, 15.15 MW of Ecowin Wind Farm in Vietnam, 31.19 MW of RATCH Cogeneration Plant- extension phase, and 86.20 MW of Asahan-1 Hydroelectric Power Plant which additional stake acquired last year. For non-power projects, the MRT Pink line and MRT Yellow line plan to commence partial operation in August, and in the last quarter, the wood pellet facility in Lao PDR is due to start production of 100,000 tons and deliver to Kyuden Mirai Energy Co., Ltd under a 15-year purchase agreement.

Ms. Choosri Kietkajornkul, Chief Executive Officer of RATCH Group said that the company’s operating in 2021 has grew impressively with total investment value of 12,459.49-million-baht. 7,366.29 million baht out of the total value invested in power business divided into 5,803.62 million baht for new projects and 1,562.67 million baht for committed investment. In Non-power business, the investment values totaled 5,093.20 million baht consisting of 4,537.10 million baht of new acquisition and 556.10 million baht of committed deals. In 2021, the company recognized capacity increase of 1,212 MW deriving from four newly acquired projects; three operating power plants and one greenfield project. As such, the company realized total equity capacity of 9,115.04 MW, which 59% and 41% of the capacity have operated in Thailand and aboard respectively. The company also booked income from two large wind farms in Australia with combined 376.74 MW capacity operated by RATCH-Australia Corporation Pty Ltd., a wholly-owned subsidiary. In April 2021, the 226.8 MW Collector Wind Farm officially dispatched electricity, of which 136.08 MW distributed to Infigen Energy under 10-year power purchase agreement, 44 MW to ALDI Foods Pty Ltd, Australia leading retailer, under 10-year power purchase contract and the rest 46.72 MW dispatched to the merchant market in Australia. In March, Yandin Wind Farm with 149.94 MW equity capacity, 70% stake owned by the company, effectively generated electricity to Alinta Sales Pty Ltd. according to 15-year power purchase contract.

“In 2022, RATCH continues implementation of 3-G strategy (Growth, Green, Generate Strategy) driving for sustainable growth. Under G-1 strategy, the company is striving for business expansion and future value creation. Driven by G-2 strategy, renewable energy business is accelerated together with ESG (Environment, Social and Governance) enhancement. Whilst G-3 strategy is implemented to heighten competence and efficiency in doing business in order for reasonable returns and operational excellence. Asides achieving business goals for growing economic values, the company aims to enhance operation in sustainability aspects, particularly greenhouse gas reduction. We have placed six guidelines of greenhouse gas reduction covering annual renewable energy target setting, diversification in low-carbon business, power plant’s efficiency optimization, fuel and energy consumption reduction, reforestation for greenhouse gas removal, targeting fuel generation mix and setting coal-fired power investment limit. The company believes that these approaches will continually curb and gradually lessen greenhouse gas released by our operations,” added Ms. Choosri.

According to renewable energy target, the company has set 250 MW annually. It aims an increase of 2,500 MW in 2025 and 4,000 MW in 2035 projecting that greenhouse gas emission could be reduced by 4 million and 10 million tons of carbon dioxide equivalent respectively. Coupled with the reforestation and forest conservation implemented in 50,000-rai areas during 2022 – 2034, greenhouse gas could be removed approximately 670,000 tons of carbon dioxide equivalent.

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