Ratchaburi Holding Increases Equity Investment on Wind Power Project to 30% Stake

Energy Press Releases Thursday July 2, 2009 11:47
Bangkok--2 Jul--Ratchaburi Holding

Ratchaburi Electricity Generating Holding PCL., discloses its shares purchase by 15 million baht in a 60 MW-Wind Power project in Phetchabun province, which the project development is conducting as scheduled and ready to start its commercial operation in 2011.

Mr. Noppol Milinthanggoon, the President of Ratchaburi Electricity Generating PCL. (RATCH), mentioned that the Company has purchased the additional common shares of Sustainable Energy Corporation Co., Ltd., the developer of Wind Power project in Phetchabun province, by 4% of its total common shares, which previously held 26% stake from initial shares purchase on February 18, 2009. This results to the shares holding of RATCH in Sustainable Energy Corporation Co., Ltd. increasing to 30% of its total shares.

RATCH purchased the additional shares of Sustainable Energy Corporation Co., Ltd. by 1,200,000 shares with 2.50 baht each amounting to 15 million baht on June 30, 2009. The additional 4% stake results the shareholding structure of Sustainable Energy Corporation Co., Ltd. comprising 60% stake holding from Wind Energy Holding Co., Ltd., 30% stake from Ratchaburi Electricity Generating Holding PCL and another 10% stake from individual shareholders. Meanwhile, Sustainable Energy Corporation Co., Ltd. has total 30 million ordinary shares valuing 10 baht each with its registered capital of 300 million baht.

“The investment in Wind Power project reflects the policy of RATCH, which aims to initiate and develop power generating project from sustainable energy emphasizing on renewable energy with environmental friendly impact. The additional shares investment increases the proportion capacity of RATCH on Wind Power project in Phetchabun from 15.6 megawatts to 18 megawatts. Furthermore, the project has its total installed capacity of 60 megawatts operating as a wind farm. At present, the project is under progress of construction plan and expected to start its commercial operation date in 2011 as scheduled. So it is considering as the nation first wind power project developed by Independent Power Producers and regarding as the biggest wind power project in Southeast Asia” Mr. Noppol Added.

Additional Information
Wind Power Project in Phetchabun

Located in Phetchabun province, Wind Power project is scheduled to generate power for the Electricity Generating Authority of Thailand (EGAT) by 125 units a year. With the project value of 4,000 million baht in a 25-year, the project is expected to start its construction in the end of 2009. The project has its installed total capacity of 60 MW, which is operating as a wind farm consisted of 30 wind turbines with 2 MW each. The power generated from wind energy would reduce the green house effect by minimizing the release of carbon dioxide of 63,500 tons per year as well as lessening the use of fuel oil of 32 million liters each year or approximately calculated as 560 million Baht, which is equal to the use of natural gas of 1 billion cubic feet each year or 240 million Baht

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