RATCH Invests ฿272Mn to Acquire 80-MW Near-Shore Wind Plant in Vietnam

Ratch Group Public Company Limited (RATCH) announced that on May 5, 2021, the company through RH International (Singapore) Corporation Limited (RHIS), its wholly-owned subsidiary has entered into Share Purchase and Subscription Agreement to purchase 50 percent of ordinary share of Nexif Energy BT Pte. Ltd., totaling USD 8.68 million (equivalent to 272.58 million baht) from Nexif Energy Pte. Ltd., the existing shareholder who is not a connected person to RATCH. 

 

The purpose of such investment is to develop Nexif Energy Ben Tre Wind Power Project in the Socialist Republic of Vietnam.

 

The project is a near-shore wind power plant with the capacity of 80 megawatts. It is operated by Nexif Energy Ben Tre One Member Company Limited (a wholly-owned subsidiary of Nexif Energy Pte. Ltd.) located in Thanh Hai commune, Thanh Phu district of Ben Tre Province, Socialist Republic of Vietnam. It has a 20-year power purchase agreement with Vietnam Electricity (EVN).

 

The project is currently under development and negotiation on the relevant contracts. The construction period is expected to take approximately 18 months, with the commercial operation scheduled in December 2022 with aim to distribute electricity generation to EVN under long-term power purchase agreement.

 

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