Ratch seeks plant partners
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Ratchaburi Electricity Generating Holding Plc plans to join with Australian and foreign partners to invest in Macquarie Generation, a coal-fired power plant that supplies the largest share - 26 per cent - of electricity in New South Wales, Australia, as t
Thailand’s largest private power-generation company plans to submit its bid for Macquarie before the August 19 deadline, with the result expected next quarter, president Phongdit Photchana said yesterday.
Overseas power plants are part of Ratch’s strategy to ensure continued growth and to diversify its sources of revenue.
Its second-quarter operating results were in line with targets, he said.
Ratch is expected to quote at least 1 billion Australian dollars (Bt28.7 billion). The other investment partner is ERM Power of Brisbane. Other potential bidders include AGL Energy, the largest Australian gas and electricity retailer, and China’s Shenhua Group Corporation.
The sale of an equity stake in Macquarie is part of its privatisation to bring in A$3 million in capital. The Australian government expects to complete the sale by the 2013 fiscal year.
After the firms submit letters of intent, the New South Wales state government will select the most qualified companies with the most suitable attributes and invite them to submit their bids.
With a stable economy, Australian assets in basic infrastructure are drawing keen interest from strategic and institutional investors, both in Australia and abroad.
