RATCH Group Public Company Limited (SET: RATCH) announced the signing of power purchase agreement for a solar power project via the Stock Exchange of Thailand (SET).
RATCH Group Public Company Limited (SET: RATCH) reported that on 20 December 2023, Solarist Thungfai Company Limited, an indirect subsidiary of Saha Cogen (Chonburi) Public Company Limited (SET: SCG), which is a subsidiary in which the company had shareholding proportion of 51.67 percent, has entered into a 25-year Power Purchase Agreement with Electricity Generating Authority of Thailand (EGAT) to develop the solar farms project with contracted capacity of 27 megawatts with the scheduled commercial operation in 2030. The project will receive a Feed-in-Tariff (FiT) rate of THB 2.1679 per kilowatt-hour, throughout the contract term.
The operation of the project will help reduce fuel price volatility and alleviate both household and industrial sectors’ electricity cost burden by providing access to electricity from clean energy at a lower price in comparison with the current average electricity price throughout the contract period. It also supports the company’s investment expansion in renewable energy to achieve the targets of 25 percent of the total generation capacity, carbon neutrality, and sustainable growth with responsibility for the environment, society and governance.
