Ratchaburi Electricity Generating Holding Plc (RATCH), Thailand's largest private power producer, is looking to invest in a couple of power plants in Myanmar on top of the one under the Dawei project.
Chief executive Noppol Milinthanggoon said the company expects the power plant project in Dawei to show progress after Myanmar comes up with a clearer policy on foreign investment protection.
Ratch yesterday said it will spend 7 billion baht this year on domestic and international projects.
With cash on hand of more than 10 billion baht for mergers and acquisitions, Ratchaburi is conducting a study on the viability of a 1,800-megawatt coal-fired power plant in Cambodia's Koh Kong province.
In March, the Thai company jointly set up KK Power Co with Ly Yong Phat, a local Cambodia business operator.
Some of the power output from the joint-venture plant will be exported to Thailand.
Locally, Mr Noppol said Ratch is preparing to join the independent power producer scheme (IPP) bidding expected to take place next year.
The company already has three land plots for the new plants including those at the existing power plant in Ratchaburi province that could accommodate at least two power generators.
Thailand opened the first IPP bidding in 1994 with a combined capacity of 5,800 MW. A second round was called in 2007 with a combined capacity of 3,200 MW. The Energy Regulatory Board expected the new round of IPP bidding to have a combined capacity of 5,400 MW.
The third round of IPPs is expected to start operation in 2020. All new power plants will be run on natural gas.
Ratch said first-half sales rose by 56% year-on-year to 31.6 billion baht for a net profit of 4.87 billion, up by 58%.
Arsit Pamaranon, a stock analyst at UOB Kay Hian, said Ratch has a good chance of winning the bidding.
RATCH shares closed yesterday on the SET at 46.25 baht, down 25 satang, in trade worth 35.7 million baht.
About the author
- Writer: Yuthana Praiwan
Position: Business Reporter