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NEXIF RATCH ENERGY INAUGURATES COMMERCIAL OPERATIONS OF ITS CO-GEN POWER PROJECT IN RAYONG, THAILAND

Bangkok/Singapore: July 4, 2022 – At a traditional inauguration ceremony held on 2nd July 2022, Nexif Energy, the Singapore-based Asian and Australian power generation company, and RATCH Group, a leading power and infrastructure company active in Thailand and across the APAC region, dedicated their 92MW Rayong gas-fired co-generation project to operational excellence and efficiency.

The project achieved commercial operation on 30th April 2022, within budget and on schedule despite severe disruptions arising from the Covid-19 pandemic throughout the construction phase. The Rayong project sells 90 MW electricity under a 25-year power purchase agreement (PPA) with the Electricity Generating Authority of Thailand (EGAT) and will serve industrial customers in the SSP Industrial Estate located in the fast-growing ‘Eastern Economic Corridor’ of Thailand. It utilizes the latest, most efficient combined cycle gas turbine technology available at this scale contributing to less energy consumption and environment benefits.

Nexif Energy owns 51% of the project and RATCH Group Public Company Limited holds the remaining 49%.

Miss Choosri Kietkajornkul, Chief Executive Officer, RATCH Group Public Company Limited, said: “I am pleased to note that with RATCH and Nexif teams working together have completed the project within budget and a tight time schedule despite Covid-19 raging during its construction period. With the increasing demand of energy and requirement of energy transition, I look forward to enhancing our ongoing cooperation. I would like to dedicate this eco-friendly project to the continued Bio-Circular-Green Economy progress of Thailand.”

Nexif Founder and Co-Chief Executive Officer, Surender Singh said: “The Rayong project demonstrates our ability to work with partners, execution strength and our commitment to deliver clean, reliable power to our customers. This gas-to-power project is ‘hydrogen ready’ when supply becomes available in Thailand and complements our expertise in wide range of renewable energy technologies including hydro, wind, solar and battery storage. Nexif Energy continually aims to be a preferred developer and leading investor for the renewables focused energy solutions in the region.”

Matthew Bartley, Founder and Co-Chief Executive Officer of Nexif Energy, further added: “The project is among the most efficient industrial co-generation projects of its kind, providing clean, reliable and affordable power to our customers in Thailand. We would like to take this opportunity to thank our partners and contractors who have made this possible and look forward to continuing our growth throughout Asia and Australia.”

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