Ratch Group Public Company Limited (SET: RATCH) announced on Wednesday that its wholly-owned subsidiary RH International (Singapore) Corporation Pte. Ltd. (RHIS) in Singapore, has signed a share sale agreement with Denham Capital Management and Nexif Pte. Ltd. to acquire 100 percent in Nexif Energy Holdings B.V. and NXF Holdings 2 Limited, with the value of acquisition of USD605 million (equivalent to approximately THB21,470 million).
Nexif Energy Holdings B.V. and NXF Holdings 2 Limited hold the asset of renewable energy power plant, gas turbine power plant, combined cycle power plant and battery energy storage system in Thailand, the Commonwealth of Australia, the Socialist Republic of Vietnam and the Republic of the Philippines.
Denham is a global energy transition investment firm who has been the majority investor in Nexif Energy since 2015. Nexif is a leading developer and investor in power business in Asia Pacific.
Such investment is in line with RATCH’s investment plan, in which the revenue can be recognized immediately after the share acquisition is completed. In addition, RATCH and Nexif have discussed and agreed to set up a new Nexif-Ratch joint venture company to jointly develop potential of the projects in the Development Pipeline and seek new Projects to expand the business of Nexif-Ratch JV company.
This will create income stability and long-term benefits on the investment and growth for RATCH through such continued development with total electricity generation capacity of operating power plants, construction and development projects approximately 1,500 MW after the JV company incorporation.