RATCH Group Public Company Limited (SET: RATCH) reported Thursday that its joint venture company Nava Nakorn Electricity Generating Company Limited will invest in an expansion for an addition of 30 megawatts of electricity generation capacity and 5 tons per hour of steam generation capacity with the project cost of approximately THB1,724 million (the debt proportion is approximately 70 percent and the equity proportion is approximately 30 percent).
The capacity expansion project is planned to begin construction in December 2022 and is expected to be completed and commence commercial operation approximately in June 2024. After the operation, Nava Nakorn Electricity Generating Company Limited will have the total electricity generation capacity of approximately 215 megawatts and the net steam generation capacity of approximately 45 tons per hour.
Nava Nakorn Electricity Generating Company Limited is the operator of a small power producer in Nava Nakorn Industrial Promotion Zone with the net electricity generation capacity of 125 megawatts and steam generation capacity of approximately 30 tons per hour. It has a 25-year power purchase agreement with the Electricity Generating Authority of Thailand (totaling 90 megawatts) and sells the remaining generated electricity and steam to industrial customers in Nava Nakorn Industrial Promotion Zone. Such a power plant has been commercially operating since 3 June 2016. RATCH has invested in an expansion for an addition of 60 megawatts of electricity generation capacity and 10 tons per hour of steam generation capacity. Such a power plant has been commercially operating since 31 October 2020. Nava Nakorn Electricity Generating Company Limited has the total electricity generation capacity of approximately 185 megawatts and the net steam generation capacity of approximately 40 tons per hour (inclusive of the original capacity).
The joint investors comprise Ratchaburi Electricity Generating Company Limited (RATCH’s wholly owned subsidiary), Nava Nakorn Public Company Limited and Global Power Synergy Public Company Limited holding share proportion of 40, 30 and 30 percent respectively.
