Ratchaburi Holding Gears Up On Renewable Energy By Restructuring Its Investment In Wind Power

Energy Press Releases Wednesday September 16, 2009 13:56
Bangkok--16 Sep--Ratchaburi Electricity Generating Holding

Ratchaburi Electricity Generating Holding PCL. has reorganized its organizational structure to reflect the government’s policy regarding the promotion of renewable energy for power generation among local businesses. Recently, the Company has transferred 30% of the Wind Power Project in Phetchabun and increased the registered capital to Ratchaburi Energy Co., Ltd., its subsidiary on renewable energy development by 500 million baht.

Mr. Noppol Milinthanggoon, President of Ratchaburi Electricity Generating Holding PCL. said the Company’s business structure has been rationalized in order to better reflect the segmentation of its subsidiaries and thus be better able to achieve its business plan targets. Ratchaburi Energy Co., Ltd will be the Company’s key player in renewable energy development. According to the resolution of the Company’s Board of Directors in August 17, 2009, the Company has approved the sale of all ordinary shares in Sustainable Energy Corporation Co., Ltd., the Wind Power Project developer, in amount of 9,000,000 shares to Ratchaburi Energy Co., Ltd. with the effective date of September 16, 2009.

In addition, the Company has approved the increase of registered capital of Ratchaburi Energy Co., Ltd. in the amount of 500 million baht, which is divided into 50 million ordinary shares with a par value of 10 Baht in order to support project development and investment. Ratchaburi Energy Co., Ltd. will call for the first capital payment of 125 million baht and additional calls for payment will be made as required for project development. After the recapitalization, the Company still holds 99.99% of Ratchaburi Energy Co., Ltd.

“The restructuring of the Company will benefit the expansion of renewable energy development, which the Company plans to increase in terms of total capacity by 100 MW in 2016,” Mr. Noppol added.
Additional Information
Wind Power Project in Phetchabun province

Wind Power Project in Phetchabun is an electricity generation project from renewable energy operated by Sustainable Energy Corporation Co., Ltd., which is 60% held by Wind Energy Holding Co., Ltd., 30% by Ratchaburi Energy Co., Ltd and another 10% stake by individual shareholders.

Wind Power Project is scheduled to generate power for the Electricity Generating Authority of Thailand (EGAT) in 2011 by 125 units a year. With the 25 year, project is valued at 4,000 million baht and is expected to start construction at the end of 2009. The project will have a total capacity of 60 MW, which will operate as a wind farm consisting of 30 units of wind turbines with 2 MW each. The power generated from wind energy will reduce green house gasses by eliminating 63,500 tons of carbon dioxide per year as well as saving 32 million liters of oil each year valued at approximately 560 million Baht, or 1 billion cubic feet of natural gas each year or 240 million Baht

Ratchaburi Energy Co., Ltd. Established in September 4, 2001, Ratchaburi Energy Company Limited is an investment arm in small-scale renewable power project, 99.99% stake held by Ratchaburi Electricity Generating Holding PCL. In September 14, 2009 onwards, Ratchaburi Energy Co., Ltd. had registered capital of 640 million Baht with paid-up capital of 265 million Baht. Currently, the Company invests in renewable energy projects namely: a 60 MW-Wind Power Project in Phetchabun, Pradu Thao Power Project and the Expansion of the Pradu-Thao Power Project, a by-product of crude oil production generating 2.625 MW in Sukhothai Province.

For more information, please contact
Public Relations Department, Ratchaburi Electricity Generating Holding PCL.Duangkeaw
Dheinsawadkij and Khanut BunnooklubTel: 0 2978 5221-5224 E-mail duangkeawd@ratch.co.th

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