Ratch Group Plc, Thailand's largest private power producer by capacity, continues to expand its business by adding 700 megawatts of capacity this year through more asset acquisitions and new development projects.
The additional capacity equals last year's target, though Ratch ended 2021 with an increase of 1,120MW in capacity.
In 2022, the company expects 450MW of the new capacity to come from fossil-fired power plants and the remaining 250MW to be produced by renewable power plants, said Choosri Kietkajornkul, chief executive of Ratch.
She said Ratch aims to buy assets in countries with major energy development projects, notably those in Asia-Pacific.
The new capacity, along with that from power plants under construction, will bring total power generation capacity to 9,920MW this year, up from 9,220MW.
Ratch is focusing on clean energy development, with a plan to increase the proportion of renewable energy from 15% to 25% by 2025 and to 40% by 2035.
In addition to the push for clean energy projects, Ratch will also venture into peer-to-peer power trade, smart grid development and energy storage systems, all of which are expected to support renewable energy policy, said Mrs Choosri.
The government has committed to achieving carbon neutrality, a balance between carbon dioxide emissions and absorption, by 2050.
Authorities also want to strike a balance between greenhouse gas emissions and absorption under the global net zero campaign by 2065.
Last month, Ratch took a significant step in its business expansion by raising 25 billion baht in a rights issue. Part of the money will also support its loan payment.
The latest fundraising followed Ratch's acquisition of two coal-fired thermal power plants with a combined capacity of 2,045MW from PT Paiton Energy (PE) in Indonesia.
In non-power businesses, Ratch expects to rack up revenue from two monorail projects -- the Pink and Yellow lines -- in Bangkok and Samut Prakan next year, as well as earnings from its 59-bed secondary-care hospital, Princ Hospital Sakon Nakhon, said Mrs Choosri.
The company's two motorway construction projects (one from Ayutthaya's Bang Pa-in district to Nakhon Ratchasima and the other from Nonthaburi's Bang Yai district to Kanchanaburi) are scheduled for completion in 2024.
