RATCH Group Public Company Limited (SET: RATCH) published an announcement of the success in purchasing shares to invest in Minh Luong Hydroelectric Power Plant in the Socialist Republic of Vietnam via the Stock Exchange of Thailand (SET).
RATCH Group Public Company Limited (SET: RATCH) reported that on 29 December 2023, Nexif Ratch Energy Investments Pte. Ltd. (NREI), a joint venture company in which the company held 49 percent of shares through RH International (Singapore) Corporation Pte. Ltd. (RHIS), the company’s wholly owned indirect subsidiary in the Republic of Singapore, has successfully purchased 100 percent of shares to invest in Minh Luong Hydroelectric Power Plant with the investment value of approximately USD 25 million equivalent to approximately Baht 860 million.
The Power Plant is a Run-of-the-River hydroelectric power plant with generating capacity of 30 megawatts (equivalent to the company’s proportion of 14.7 megawatts). It is located in Lào Cai Province in the north west of the Socialist Republic of Vietnam. It has a 20-year Power Purchase Agreement with Vietnam Electricity Authority and has been commercially operating (COD) since April 2018.
The transaction is not a connected transaction and the size of this asset acquisition does not require to disclose information regarding the acquisition or disposition of assets of listed companies according to the Notification of the Capital Market Supervisory Board and the Announcement of the Stock Exchange of Thailand.