Ratchaburi Electricity Generating Holding Plc (Ratch), Thailand’s largest independent power producer, is moving ahead with a 2-billion-baht plan to triple renewable energy capacity.
“We aim to have renewable energy of 300 megawatts over the next three years, up from 103 now,” said chief executive Noppol Milinthanggoon.
Ratch holds a 40 per cent stake in three solar farms _ Korat 3, Korat 4 and Korat 7 _ with six megawatts of capacity each.
The remaining 60 per cent is controlled by the SET-listed SPCG Plc.
Each project costs 600 million baht, and all three are in commercial operation already.
Previously, Ratch acquired 49 per cent in the solar power venture Solarta Co, with the balance belonging to Yanhee Solar Power, a unit of Yanhee Hospital Plc.
Solarta is developing eight projects with 34.25 MW of capacity in Ayutthaya, Suphan Buri and Nakhon Pathom provinces.
All have power purchase agreements with the Provincial Electricity Authority and a subsidy of eight baht per unit under the government’s incentive programme for renewable energy producers.
Over the last two years, Ratch invested more than 3 billion baht in renewable energy, including a deal to raise wind turbine capacity in Australia through a subsidiary, Ratch-Australia Corporation (RAC), plus biomass and more solar farms in Thailand.
The firm is studying the feasibility of adding three more wind turbine farms in Australia.
In 2010, Ratch acquired a 40 per cent share worth 356 million baht in Songkhla Biomass Co from Precise Power Producer Co. The project is under construction and expected to operate 9.9 MW of biomass power in 2014.
In another development, Mr Noppol said the company is ready to participate in bids for the new Independent Power Producer (IPP) programme next year.
The Office of Energy Regulatory Commission is studying the details of 5,400 MW worth of gas-fired power plants and expects to call for bids by next year. All winning IPPs are scheduled to operate power plants after 2021.
RATCH shares closed yesterday on the Stock Exchange of Thailand at 42.25 baht, up 50 satang, in trade worth 35.7 million baht.
