RATCH boosts wind-power plans

The move follows the company’s acquisition of a 56.16-per-cent stake in Transfield Services Infrastructure Fund (TSIF), a major infrastructure mutual fund in Australia, from Transfield Services Limited (TSE) in July. The transaction cost $216 million Australian dollars (Bt6.7 billion).
After the Australian firm was de-listed from the Australian Stock Exchange, the corporate name was changed to RATCH-Australia Corporation (RAC), which was set to serve as RATCH’s investment arm for business expansion in Australia.
 “[Some] areas in Australia have constant wind speeds, staying at 8 metres per second [m/s], which is suitable to develop this type of project and makes it a worthwhile investment,” said president Noppol Milinthanggoon.
The fund controls a combined capacity of 1,126 MW, comprising wind power (67.5 MW), natural gas (569 MW) and coal-fired power (489 MW). Its power plants’ power-purchasing contracts average 11 years.
The Toora wind farm, one of three wind farms 100-per-cent owned by RAC, is 170km southeast of Melbourne. It is the second large-scale wind farm in Victoria state, consisting of 12 turbines with a combined capacity of 21 MW or an average 5.5 million units of electricity a month, serving 6,600 households in the nearby area. Operations started in October 2002 with total investment of A$38 million.
Power is produced at wind speeds of between 3.5m/s and 25m/s. TRU Energy, one of Australia’s largest gas and electricity retailers, has purchased all electricity produced by the Toora wind farm via transmission lines owned by CitiPower. The selling price is around Bt4.5 per unit.
RAC’s assets in Australia, including a 56-per-cent stake in the fund, represent 632MW. Following the plan, RAC will add a 12-per-cent stake in the fund by the end of this year and another of the same size by the middle of next year, taking its stake to 80 per cent.
Next year, Noppol said the company expected to spend Bt1.5 billion more buying the extra stake in the fund. “Total investment with the 80-per-cent stake in the fund will be Bt9.7 billion,” he said.
“We also plan to overhaul operations to increase efficiency and expand production capacity of existing power plants such as the Kemerton and Townsville natural gas power plants, and the Collinsville coal power plant, to generate more revenue,” he said.
He said Thailand is investing in renewable energy and electricity production using alternative fuel sources, with the target of making such power sources 20 per cent of the country’s total capacity over the next five to 10 years.
Wind power represents the largest form of renewable energy globally, generated around 16,000MW, especially in the EU and China.
Following the company’s investment plan for 2011-2016, Noppol is confident that it will meet the target of increasing production capacity from 3,300MW currently to 7,800MW in 2016. Meeting the target will require investment of up to Bt100 billion, based on a cost of US$1 million (Bt30 million) for each additional MW.
In addition, RATCH is in talks to buy stakes in energy projects in Indonesia, the Philippines and Vietnam, representing an estimated investment of Bt30 billion.