Thailand's Ratchaburi hikes capacity target to 10,000MW by 2023

It's zeroing in on overseas investment for growth.

Ratchaburi (RATCH) revealed a "redefined business plan" wherein its growth strategy will focus more on expansion into new business besides power and energy, and overseas investment.

It targets to achieve the equivalent capacity goal of 10,000 MW by 2023, and 20-percent renewable energy capacity out of the target so as to serve the country's greenhouse gas reduction scheme. For the first-half 2016 operating results (January 1 - June 30, 2016), the company recorded the 2.360-billion-baht profit, increasing by 2.3% over the same period of last year.

In the first-six month performance of 2016, the company realized the additional capacity of 329.49 MW, which are 250.4 MW from Hongsa power plant, Unit 3; 55.65 MW from NNEG power plant and 23.44 MW from EDL-Generation Public Company.

Additionally, four projects under construction, with total capacity of 359 MW are progressed as planned.

Under its current asset portfolio, RATCH owns a combined equity capacity of about 6,980 MW, comprising of 4,948.59 MW (71% out of the total capacity) from domestic projects and 2,031.42 MW (29%) from international projects. In terms of generation fuels, there are fossil fuel capacity of 6,085.97 MW, accounting for 87.19% out of a total capacity, and clean & renewable energy of 894.04 MW (12.85%).

The company aims to increase the clean and renewable power portfolio to 20% out of the entire capacity goal of 10,000 MW by 2023.