SET-listed Ratch Group Plc on Tuesday announced its acquisition of a 70% equity stake in the 214-megawatt Yandin wind farm in Australia, a position worth AUD$53.31 million (1.173 billion baht).
The deal was made by its wholly-owned subsidiary, Ratch-Australia Corporation Pty Ltd (RAC), which signed the subscription, sale and purchase agreement last Friday.
RAC has purchased 70% of common shares in Yandin WF Holding Pty Ltd from Renewable Energy Investment Fund Pty Ltd (REIF), a subsidiary of Alinta Energy Pty Ltd (Alinta), and 70% of investment units in Yandin WF's unit trust from REIF's unit trust.
The project, located 150 kilometres north of Perth in Western Australia, is under construction and expected to commence commercial operations in Sept 2020. It has also secured a 15-year power purchase agreement with Alinta Sales Pty Ltd, a subsidiary of Alinta.
Kijja Sripatthangkura, Ratch's chief executive, said this deal reflects Ratch's growth strategy of increasing its high-quality generation assets in existing markets, particularly in Australia, where RAC has its business presence.
The 214MW Yandin project will be the biggest wind farm in Western Australia and benefits from excellent wind resources.
This investment expands RAC's portfolio in Western Australia, which also includes the gas-fired Kemerton and BP Kwinana power stations.
"This investment increases RAC's power generation capacity to 1,250.15MW by share ownership and the project is the third large scale wind farm after the 226.8MW Collector project in New South Wales and 180.45MW Mount Emerald in Queensland," said Mr Kijja.
"It brings Ratch's total power generation capacity to 7,677 MW."
He added this investment also allows partnership and collaboration between Ratch and Alinta to collectively add socio-economic value for all relevant stakeholders in the future.
The Yandin wind farm project will comprise 51 4.2 MW turbines funded by the syndicated facility agreement for approximately AUD$364 million (8.01 billion baht).
The wind farm will be connected to a 330-kilovolt electricity network via a new 10-km transmission line and terminal station that will be built, owned and run by the state-owned network operator, Western Power.
