Ratch takes majority stake in 30-MW wind farm in Vietnam

Thailand-based independent power producer Ratch Group (BKK:RATCH) has acquired a 51% stake in a 29.7-MW wind farm in Vietnam that has just kicked off commercial operations.

Under the deal, the Thai group’s indirect subsidiary RH International Singapore Corp has bought 63.8% of a business to invest in the specific wind power project, it said recently.

Located in Ben Tre, about 180 km south of Ho Chi Minh City, the wind farm is equipped with nine turbines of 3.3 MW each and will generate electricity that will be sold to domestic utility Vietnam Electricity (EVN) for 20 years. The power purchase agreement (PPA) expires in 2041.

The Thanh Phong park, also called Ecowin, park was brought live at the end of September and will be operated by Ecowin Energy Corp, a 51%-owned subsidiary of Ratch.

Ecowin will add to Ratch’s portfolio of two operating hydropower plants (HPPs) in Vietnam, where it is also building another HPP and a 80-MW wind farm in the Thanh Phu district of Vietnam’s Ben Tre Province. The wind project is a joint development with Singapore’s Nexif Energy.

Ratch’s goal is to expand its renewable energy capacity to 4 GW by 2035 from the current 2.9 GW, from which 1.4 GW is still under construction.

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