RATCH acquires wind farm in Australia
Ratchaburi Electricity Generating Holding has acquired an additional 50 per cent stake in Mount Emerald Wind Farm in Australia at the value of 10 million Australian dollar or approximately Bt260 million.
The transaction involves RATCH-Australia Corp (RAC), a subsidiary owned 80 per cent by RATCH, and Port Bajool.
Mount Emerald Wind Farm is developing a 180-megawatt Mount Emerald wind farm. The project was approved by relevant authorities in November 2015. A 13-year power purchase agreement (PPA) was struck with Ergon Energy --the state-owned enterprise of Queensland who will purchase electricity and Green Energy Certificates produced by the project until 2030.
The project increases RAC’s capacity to 654MW and RATCH’s capacity to 6,957MW.
“The transaction does not only strengthen RAC’s financial position, but also extends our renewable business where Australia is our main investment destination. To date, RATCH's equity renewable capacity in Australia reaches 198MW from RAC's four wind farms. In addition, RAC has other two renewable projects in development pipeline, including a wind farm and a solar farm, with combined capacity of 232MW,” said Rum Herabat, chief executive officer of RATCH.
Mount Emerald wind farm requires 380 million Australian dollar in investment or about Bt9.5 billion. The project involves the installation of 53 wind turbines, with 3.45MW each. The wind farm is expected to be completed and commercially operated in 2018.
