Bangkok--17 Jan--Ratchaburi Electricity
Ratchaburi Electricity Generating Holding PCL. ("Ratchaburi Holding") announces that the company has entered a Share Holding Agreement and Share Purchase Agreement dated on January 13, 2011 with Yanhee Solar Power Company Limited to acquire 49% of Solarta’s equity. This investment values 595 million baht and will consequently increase 16.78 megawatts to the company’s capacity from renewable sources.
Mr. Noppol Milinthanggoon, President of Ratchaburi Holding, said that Solarta is developing 8 solar power generation projects, with 34.25 megawatts in total capacity. All projects were already granted a non-firm power purchase agreement for very small power producer using renewable energy with the Provincial Electricity Authority and a subsidy of 8 Baht per kWh adder from the Power Department Fund Management Division for 10 years. A success of this investment will, in turn, increase the company’s revenue and secure our strong financial position in near future.
As a shareholder, Ratchaburi Holding will take part in project engineering and technical management during developing 8 projects which are located in Ayutthaya Province, Suphanburi and Nakorn Pathom. It expects that the projects will be completed and start commercial operation in 2011 and 2012.
“Not only optimize return to the company and stakeholders but this movement is also in line with our growth strategy by expanding our presence and capacity in renewable and green energy to reach 100 megawatts in 2016. Moreover, it is responded to the government policy regarding clean and green power business” Mr. Noppol said.