RATCH Group Public Company Ltd. of Thailand plans to start the construction of its Negros solar project this year and its offshore wind projects in Camarines Sur and Quezon province in 2025 as part of its overseas expansion program.
RATCH Group chief executive Choosri Kietkajornkul said in a statement the company continued to drive its investment plan in power business in the Philippines and other countries such as Australia and Vietnam.
“In the Philippines, the company moved forward the development of projects in pipeline including the Negros solar power project expecting to begin construction in 2024, the offshore wind project in San Miguel Bay, and the offshore Luciana wind farm project on Luzon Island, which construction phase would start in 2025,” Kietkajornkul said.
The group is developing the Negros solar project with a potential capacity of 150 megawatts. It owns a 49-percent stake in the project.
It is also developing the Lucena offshore wind project in Quezon with an estimated capacity of up to 450 MW and the San Miguel Bay nearshore wind farm in Camarines Sur with 450 MW. The group holds a 49 percent interest in both projects.
Kietkajornkul said the projects in the pipeline would create stable returns for shareholders and stakeholders.
“It will create benefits for society and the environment in the long term,” Kietkajornkul said.
The RATCH Group is also nearing completion of its 74-MW solar project in Calabanga, Camarines Sur, which is being implemented by subsidiary Calabanga Renewable Energy, Inc.
The project company will sell about 85 percent of the generated energy through a power supply agreement with two subsidiaries of Aboitiz Power Corp. and the rest in the Wholesale Electricity Spot Market or direct short-term contracts with commercial and contestable customers.
The RATCH Group is a leading energy and infrastructure company in Thailand, with an ambitious vision of becoming a leading value-oriented energy and infrastructure company in the Asia Pacific region.