RATCH Purchases a 49% Stake of NER Singapore Worth ฿600mn to Develop “Nexif Power Plant”

Ratch Group Public Company Limited (RATCH) announced that on March 12, 2020, RATCH has entered into Share Purchase Agreement to purchase 49 percent of ordinary shares of NER Singapore Pte. Ltd., totaling approximately USD 21 million (equivalent to approximately Baht 662 million) from Nexif Energy Thailand B.V., the existing shareholder who is not a connected person to RATCH. The purpose of such investment is to develop Nexif Energy Rayong SPP Power Project.

Nexif Energy Rayong SPP Power Project is a firm-cogeneration small power producer power plant project with the capacity of 92 megawatts, using natural gas as fuel. It is operated by Nexif Energy Rayong Company Limited (a wholly-owned subsidiary of NER Singapore Pte. Ltd), located in SSP Industrial Park, Bankhai District, Rayong Province. It has a 25-year power purchase agreement with Electricity Generating Authority of Thailand. The commercial operation date is expected to be approximately in April 2022. 

The investment is in line with the investment plan of RATCH and it would also gain a new business partner who has an opportunity to jointly invest in power business and related business in the future.