Ratchaburi Electricity Generating Holding Plc (RATCH), Thailand's largest private power producer, will bid to acquire two state coal-fired power plants in Australia as part of the local government's privatisation programme.
Kriengrit Jiajanpong, a senior executive vice-president, said the plants in New South Wales state have a combined capacity of 4,000 megawatts.
Through its 80%-owned subsidiary Ratch-Australia Corporation (RAC), the SET-listed company has been searching for strategic partners for the deal.
"We're studying details of the bidding for these assets and selecting new strategic partners," said Mr Kriengrit, adding that the amount required for the acquisition is under study.
Bidding results are expected in the second half of this year. RAC owns four gas-powered plants and three wind farms with a combined capacity of 815 MW.
The company plans to develop two new wind farms with capacities of 180 and 250 MW, with the first one operating in the second half and the other in 2014.
The planned purchase of the Australian plants is part of Ratch's 10-billion-baht budget for expansion in Thailand, Laos and Australia this year. It targets lifting generating capacity to 7,800 MW by 2018 from 6,300 now.
In Laos, Ratch is developing the Hongsa lignite-fired power plant with a capacity of 1,870 MW. Through a joint venture with Banpu Plc, the plant will operate the first generator of 600 MW in June 2015, with the rest to follow in 2016.
The 410-MW Xe Pian Xe Namnoy hydroelectric project in Laos is under development, with operation due in 2018.
In Thailand, it is developing a gas-fired plant under the small power producer programme with a capacity of 210 MW that will operate next year.
Ratch achieved first-quarter revenue of 13.4 billion baht, up by 7% year-on-year, for a net profit of 2.15 billion, up by 36.8%.
Shares of RATCH closed yesterday on the SET at 57 baht, down 50 satang, in trade worth 51.5 million baht.