RATCH Group Public Company Limited (SET: RATCH) announced on November 24, 2022, that RH International (Singapore) Corporation Pte. Ltd. (RHIS) (a subsidiary) has invested by purchasing ordinary shares from Eco Energy Holdings Pte. Ltd. (EEH) through Fareast Renewable Development Pte. Ltd. (FRD), RHIS holding 90% stake owned subsidiary, to invest and jointly develop Sibundong hydroelectric power plant, operated by PT Tapanuli Hydro Energy.
Sibundong is a run of river hydroelectric power plant with the generation capacity of 73.7 megawatts, located in Sibundong river, North Sumatra Province in the Republic of Indonesia. Sibundong is currently in the development phase with a plan of Commercial Operation Date in 2028.
The EEH’s affiliate will make RHIS a shareholding of 50% in proportion to the Sibundong project, with the value of the acquisition of shares, USD 13.89 million or approximately THB 528.07 million.
