Bangkok--17 Jan--Ratchaburi Electricity Generating Holding
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 Solar Power Company Limited to acquire 49% of Solarta’s equity. This investment values 595 million baht 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.
Company Information
Established in March 2000, Ratchaburi Electricity Generating Holding PCL. operates its business in power generation, renewable energy and other related businesses. Currently, the Company has a total installed capacity of 4,501.35 MW derived from 4 commercially operating projects located in Ratchaburi province; 3,645-MW Ratchaburi Power Plant (99.99% stake), the 700-MW Tri Energy Power Plant (50% stake) and the 1400-MW RatchaburiPower Power Plant (25% stake), 2.6-MW Pratu Tao Power Plant located in Sukhothai province and 615 MW Nam Ngum2 hydroelectric power plant located in Lao PDR. There are 3 ongoing developing IPP projects in the Lao PDR with a total installed capacity of 959 MW including 1,878-MW Hongsa Thermal Power Plant (40% stake), the 440-MW Nam Ngum3 Hydroelectric Power Plant (25% stake) and the 390-MW Xe Pian Xe Nam Noy Hydroelectric Power Plant (25% stake). For renewable, the 60 MW wind farm in Petchaboon is under development. Three SPPs located in Ratchaburi Province and Prathumthani with 350 MW combined capacity were recently granted from EGAT.
The company’s leading position in power industry and stable financial position are proven by "BBB+" rating assigned by Standard & Poor's Ratings Services (S&P) and first-time Baa1 from Moody's Investors Service (Moody's).
For more information, please contact
Public Relations Department, Ratchaburi Electricity Generating Holding PCL.
Wiwan Phayakvichien and Nuannang Changadveja
Tel: 0 2794 9941, 0 2794 9944 E-mail:
[email protected]