RATCH fosters renewables business in Australia
RATCH Group PCL has reported to the Stock Exchange of Thailand that its wholly-owned subsidiary in Australia, RATCH-Australia Corporation Limited, has finalized a 10-year private power purchase agreement with ZEN Energy Retail Pty Limited, a prominent electricity retailer in Australia.
This agreement entails the distribution of 20.6% of the electricity generated by the Collector wind farm and 100% of the Starfish Hill wind farm, effective from April 1, 2024.
After the transaction, the 226.80-MW Collector wind farm located in New South Wales has three off-takers for its electricity distribution: Iberdrola Australia Energy Markets Pty Ltd. (formerly Infigen Energy) at 60%, ALDI Foods Pty Ltd. at 19.4%, and ZEN Energy Retail Pty Limited at 20.6%. ZEN Energy will also take all electricity off the 33-MW Starfish Hill wind farm in South Australia.
Choosri Kietkajornkul, Chief Executive Officer of RATCH Group, stated that RATCH-Australia Corporation Limited (RAC) serves as the company's primary driver for expanding its renewable energy business in Australia. Currently, RAC operates renewable energy generation totaling 887.69 megawatts. The recent achievement of private power purchase agreements (PPAs) not only ensures a steady income but also enhances the stability and efficiency of wind power plant production.
"RAC is presently in the process of developing and constructing renewable power projects totalling 514 MW. Additionally, it has been engaging in long-term PPAs with business partners seeking renewable electricity to fulfil their greenhouse gas reduction and/or net-zero emission objectives. Currently, the development of a 152-MW solar power project in New South Wales, coupled with an 81-MW battery energy storage system, is progressing steadily and is expected to commence commercial operations in 2026. This development significantly enhances the company's financial stability," Choosri concluded.
