Bangkok--18 Feb--Ratchaburi Electricity Generating Holding
Ratchaburi Electricity Generating Holding PCL. signs the Share Purchase Agreement and Shareholders Agreement with Renewable Energy Corporation Co., Ltd. for a 60-MW Wind Power project’s development in Phetchabun province. Initially, RATCH holds 26% stake of the project investment. This project would start constructing in October 2009 and is expected to start its commercial operation in 2011.
Mr. Noppol Milinthanggoon, the Managing Director of Ratchaburi Electricity Generating Holding PCL. discloses that the Company has entered to the Wind Power project’s development with Renewable Energy Corporation Co., Ltd. This project aims at power generating development from wind energy, which would be the country’s first wind power project of private sector. With the total installed capacity of 60 MW, Wind Power project operates as a wind farm consisting of 30 wind turbines, which each turbine has an installed capacity of 2 MW. The main purpose is to generate power for Electricity Generating Authority of Thailand (EGAT) by 2011. In addition, this project development reflects to the Company’s policy in terms of producing power from renewable energy along with concerning in environmental impact in order to reduce the green house effect by minimizing the release of carbon dioxide of 63,500 tons per year as well as lessening the use of fuel oil of 32 million liters each year or approximately calculated as 560 million Baht, which is equal to the use of natural gas of 1 billion cubic feet each year or 240 million Baht. Furthermore, the Company also responds to the government’s policy in encouraging private sector to produce power from renewable energy.
Located in Phetchabun province with a total investment of 4,300 million Baht, the Wind Power project is expected to supply electricity for Electricity Generating Authority of Thailand (EGAT) at a total of 125 million units each year under a 25-year contract. The project is scheduled to start construction in October 2009. RATCH initially holds 26% stake of the registered capital by signing the share purchase agreement with Sustainable Energy Corporation Co., Ltd., the subsidiary of Renewable Energy Corporation Co., Ltd. This results to the Company in increasing capacity by proportion of 15.6 MW. RATCH invests 500 million Baht on this project by using the Company’s working capital.
In order that, the Signing Ceremony for the Share Purchase Agreement and Shareholders Agreement between Ratchaburi Electricity Generating Holding PCL., Renewable Energy Corporation Co., Ltd. is held on February 18, 2009 by Mr. Noppol Milinthanggoon, the Managing Director of RATCH and Mr. Nopporn Suppipat, the Chief Executive Officer of Renewable Energy Corporation Co., Ltd. will represent the companies for both agreements. In addition, there are the executives from both sides attending this ceremony.
The Wind Power project is the first project in renewable energy developed by the Company and also currently is the country’s biggest wind power. Nevertheless, the Company is still trying to continue investing more on the renewable energy’s project in hoping that the Company would study this Wind Power project as a pilot project for potential expanding to other renewable energy projects in the near future.
For more information, please contact
Public Relations Department, Ratchaburi Electricity Generating Holding PCL.
Wiwan Phayakvichien and Duangkeaw Dheinsawadkij
Tel: 0 2978 5221, 0 2978 5224 E-mail [email protected]