Ratch Group Plc, Thailand's largest private power generator by capacity, expects to allocate an investment budget worth 30 billion baht in 2022 as it continues to expand its power business and invest more in renewable energy development.
Up to 28 billion baht of the budget will go to its power business, with 26.5 billion to support a plan to acquire new assets and 1.5 billion to finance energy development projects, said Ratch chief executive Choosri Kietkajornkul.
The remaining 2 billion baht will be allocated for non-power businesses.
"The investment projects will enable Ratch's electricity generation capacity to meet our target," she said.
Ratch expects to increase its capacity to 9,815 megawatts in 2022, up from 9,115MW last year.
"The additional capacity of 700MW consists of 450MW from fossil fuels and 250MW from renewable energy," said Ms Choosri.
Ratch set a target to increase its power generation capacity to 10,211MW within 2025. It expects to allocate investment budget worth 30 billion baht for each year.
In the renewable energy segment, the firm set a target to produce 250MW from clean energy each year.
Ratch aims to increase electricity generation capacity, based on renewable fuels, to 2,500MW in 2025 and 4,000MW in 2035. This is expected to help reduce greenhouse gas emissions by 4 million and 10 million tonnes of carbon dioxide equivalent, respectively, she said.
The firm will also implement other environmental projects, including reforestation and forest conservation covering up to 50,000 rai of land from 2022 to 2034. This is expected to result in the reduction of greenhouse gas by 670,000 tonnes of carbon dioxide equivalent.
Ratch continues to seek new opportunities to invest in the power business both in Thailand and overseas.
Ratch Group is in talks with 5-6 power companies and expects to conclude some deals this year, said Ms Choosri.
"The company is seeking opportunities to invest in solar and wind energy as well as combined heat and power projects, with licences to trade electricity," she said.
