SET-listed Ratch Group, a power generation arm of the Electricity Generating Authority of Thailand, expects to soon finalise six new deals to acquire power generation assets with a combined capacity of 550 megawatts in Thailand and overseas, under a plan to increase renewable energy.
Five of the agreements involve renewable power, while the other one is a gas-fired power plant with combined-cycle technology, said Ratch chief executive Nitus Voraphonpiput.
He did not elaborate on purchase details, saying only that the six deals cover more than 10 power plants in Indonesia, Laos, the Philippines, Thailand and Australia.
The asset acquisition falls under Ratch's additional capacity policy, aiming for a capacity increase of 700MW per year, as part of a budget of 15 billion baht allocated for 2024.
As Ratch gains a lower profit margin from newly acquired assets, it needs to spend the budget developing new power generation facilities, which usually have higher margins, said Mr Nitus.
The company plans to conclude power plant projects, with another combined capacity of 150MW, by the fourth quarter this year.
Ratch's total power generation capacity is 10,817MW, with 9,007MW supplied by plants in operation and the rest from facilities under construction.
The company plans to have renewable power make up 30% of total electricity generation capacity by 2030.
Ratch also runs businesses in the non-power segment, with plans to venture into new businesses with growth potential.
Mr Nitus said Ratch is in talks with prospective partners to explore opportunities in the battery-powered vehicle supply chain, especially concerning charger infrastructure.
The company is also seeking strategic partnerships in the carbon capture storage system industry to support long-term development and facilitate the achievement of its net-zero target by 2050.
Mr Nitus said Ratch plans to increase revenue in the non-power segment to 10% within four years, up from 5% at present.
The company operates two monorails in Bangkok, two motorways -- Bangkok to Nakhon Ratchasima and Bangkok to Kanchanaburi -- as well as healthcare, wellness and lignite mining enterprises.