Ratchaburi Electricity Generating Holding Plc (Ratch) expanded its renewable business in Australia by investing 6.9 billion baht to develop two solar farms with a capacity of 53 megawatts.
Through Ratch-Australia Co Ltd (RAC), which is 80% owned by Thailand's largest private power producer, the two solar farms will replace the Collinsville coal-fired station that shut down in June.
Ratch chief executive Pongdith Potchana said the 23-MW Collinsville photovoltaic solar project was granted a development licence and is now selecting an engineering procurement contractor with a schedule to commercially operate in 2015.
The 30-MW Collinsville solar thermal farm received 75 million baht (A$2.5 million) of funding from the Australian government for a feasibility study and expects an additional subsidy from the government to test its commercial worthiness, becoming a prototype for solar thermal technology in the country. The project will be developed in 2015 and completed in 2017.
"The company sees more investment opportunities in Australia, particularly in wind and solar power. The Australian government aims to increase its electricity capacity from wind and solar power sources to 20% of total capacity in 2020," said Mr Pongdith. The two solar farms will increase RAC's capacity to 870 MW and Ratch's renewable capacity to 209 MW, representing 3.3% of its total of 6,303 MW. The SET-listed company first entered Australia in 2011 by acquiring 80% equity of Transfield Services Infrastructure Fund, which was later renamed RAC. RAC owns seven power plants consisting of three gas-fired units with 569 MW total, a 180-MW coal-fired plant, and three wind farms with a total capacity of 68 MW. Also, two wind farms are undergoing feasibility studies.