Thailand’s Ratch Group Public Company Limited announced on October 2 that it has acquired a 51 per cent stake in the 29.7-MW Thanh Phong Wind Power Plant project in the Mekong Delta’s Ben Tre province.

Ratch said its indirect subsidiary RH International (Singapore) Corporation Pte. Ltd. has purchased shares in a business to invest in the wind power project. With the purchase, Ratch holds an indirect stake of 51 per cent in the project, also known as Ecowin.

The project is operated by the Vietnam-based Ecowin Energy Corporation, a joint venture 51 per cent owned by Ratch. Commercial operations began on September 29, 2023. Electricity generated will be dispatched to state utility Electricity of Vietnam (EVN) under a 20-year power purchase agreement (PPA).

Ms. Choosri Kietkajornkul, CEO of the Ratch Group, said the wind power plant is the company’s third renewable power project in Vietnam, joining the Song Giang 2 and Coc San hydroelectric power plants, with total capacity of 49.63 MW.

The company also has two other projects under development and construction: the Song Giang 1 hydroelectric and Ben Tre wind power plants, with a combined installed capacity of 65.15 MW. The two projects are scheduled to commence commercial operations in 2024 and 2025, respectively.

Ms. Choosri noted that in line with the company’s strategic plan, Vietnam is regarded as a target country due to its continued economic growth and power development plan, which is clearly focused on renewable energy sources including hydroelectric power, onshore and offshore wind power, and solar power.

“The company foresees a sound investment opportunity in renewable energy expansion in Vietnam that could be run through the Ratch Group itself or through a joint venture company, Nexif Ratch Energy Investment (NREI),” she said. “On top of that, the company aims to expand its renewable capacity to 4,000 MW by 2035.”