SET-listed Ratch Group, the power generation arm of state-run Electricity Generating Authority of Thailand, aims to expand its business in Australia, Vietnam and the Philippines, which all support renewable energy development.
The company will continue to invest in power generation facility development, including new projects undergoing feasibility studies and those being developed, said Choosri Kietkajornkul, chief executive of Ratch.
The company sees investment potential and opportunity in renewable energy projects that can sell electricity to the Australian government, which plans to achieve a net-zero target in 2050, she said.
Ms Choosri said a 152-megawatt solar power project and an 81MW energy storage system are being developed in New South Wales, while a 120MW wind power project in Queensland and a 100MW energy storage system are undergoing feasibility studies.
The energy storage system is to store electricity from renewable energy sources.
In Vietnam, Ratch noted the 8th National Power Development Plan aims to increase power generation capacity to 150 gigawatts in 2030, with 40% coming from renewable energy.
The company is using a joint venture to study and develop solar and wind power projects, as well as acquire operating power plants.
In the Philippines, the government set a goal to have 102GW of electricity from renewable sources by 2040.
Ratch is pushing ahead with plans to develop the Negros solar power project, which is scheduled to start construction next year, along with an offshore wind project in San Miguel Bay and the offshore Luciana wind farm project in Luzon.
Ms Choosri said the company is on track for its sustainable business goals.
The company expects its power plant projects under construction, with a capacity of 2,918MW, to start operation on schedule, generating revenue between 2024 and 2033, she said.
Next year, Ratch expects to realise additional capacity of 459MW from three power plants, including Hin Kong combined-cycle power plant (Block 1).
Its subsidiary, Hin Kong Power Holding Co, signed a three-year liquefied natural gas (LNG) purchase contract with Gunvor Singapore Pte, which will supply 500,000 tonnes of LNG to the Hin Kong plant annually.
The first delivery is slated for March next year.