Ratch Group acquires 70 per cent stake in Australian wind farm
RATCH Group Public Company Limited today (Tuesday) announced its acquisition of a 70 per cent equity stake in the 214MW Yandin Wind Farm in Australia.
The deal was made by its wholly-owned subsidiary, RATCH-Australia Corporation Pty Ltd (RAC), which signed the subscription, sale and purchase agreement on July 26.
RAC has purchased 70 per cent of common shares in Yandin WF Holding Pty Ltd from Renewable Energy Investment Fund Pty Ltd (“REIF”), a subsidiary of Alinta Energy Pty Ltd (“Alinta”) and 70 per cent of investment units in Yandin WF Holding Unit Trust from Renewable Energy Investment Fund Unit Trust. The transaction is valued at 53.31 million Australian dollars, equivalent to approximately Bt1.172 billion.
The project, located 150 kilometers north of Perth in Western Australia, is under construction and expected to commence commercial operation in September 2020. It has also secured a 15-year power purchase agreement with Alinta Sales Pty Ltd, a subsidiary of Alinta Energy.
Kijja Sripatthangkura, the RATCH Group CEO, said the achievement reflects the company’s growth strategy to increase its high-quality generation assets in existing markets, particularly in Australia, where RAC has a strong presence.
The 214MW Yandin project will be the biggest wind farm in Western Australia and benefits from an excellent wind resource. This investment expands RAC’s portfolio in Western Australia, which also includes the gas-fired Kemerton and BP Kwinana power stations.
“The investment increases RAC’s equity generation capacity to 1,250.15MW, and the project is the third large-scale wind farm after the 226.8MW Collector project under construction in New South Wales and [the] operating 180.45MW Mount Emerald [facility] in Queensland. It brings RATCH’s total equity generation capacity to 7,677MW. Importantly, the investment also allows partnership and collaboration between RATCH Group and Alinta to collectively enhance socio-economic value to all relevant stakeholders in future,” Kijja said.
The Yandin Wind Farm project will comprise 51 turbines of 4.2MW funded by the syndicated facility agreement for approximately 364 million Australian dollars (Bt8.008 billion). The wind farm will be connected to a 330-kV electricity network via a new 10-kilometre transmission line and terminal station that will be built, owned and run by state-owned network operator Western Power.
