RATCH Group targets to expand in gas-fired and RE projects

The company has 4,340 MW of renewable energy pipeline projects.

RATCH Group has set its eyes on expanding its power business, focusing on gas-fired projects for conventional project investment, alongside pursuing renewable energy facilities.

In a statement, RATCH Group CEO Nitus Voraphonpiput said that it will prioritize gas-fired power projects for conventional power generation as this remains accepted in the energy transitions, adding that it could be transformed into other types of fuel.

The CEO said Thailand and Indonesia present opportunities for gas-fired project development.

Meanwhile, the company also aims to raise its renewable energy generation capacity by at least 30% in 2030.

It currently has around 4,340 megawatts of pipeline projects and an investment plan of 700 MW growth annually from 2024 to 2030, on top of its existing renewable projects in Thailand, Australia, Laos, Indonesia and the Philippines.

“The conventional and alternative energy power plants located in Thailand, Lao PDR, Australia, and Indonesia, are our primary revenue sources. We plan to enhance the efficiency of asset management in particularly performance monitoring and ESG (Environment, Social, Governance) risk management processes,” Nitus said.

“Additionally, funding sources will be prepared to support the business expansion of both power generation and new businesses, while cost, liquidity, and returns for shareholders are properly managed,” he stated.

The CEO also said that it will prioritise improving its employees’ capabilities to adapt to the digital age and energy transition and the integration of ESG into work practices.

“It is confident that this approach will enable RATCH to maintain its leadership in the power business, create economic value for steady growth and deliver value creation to society and the environment continuously,” he said.

RATCH Group aims to achieve carbon neutrality by 2050.