RATCH Group unit buys Eco Energy shares to co-develop hydro project in Indonesia
RH Internationa (Singapore) will now hold a 50% stake in the project.
RH International (Singapore), a wholly-owned indirect subsidiary of Thailand’s RATCH Group, purchased ordinary shares from Eco Energy Holdings to invest in and co-develop the 73.7-megawatt Sibundong hydroelectric power plant project in Indonesia.
In a statement, RATCH said that RHIS now becomes the 50% holder of the project, following the purchase of shares through its 90% owned subsidiary Fareast Renewable Development, equivalent to $13.89m.
The run-of-river hydroelectric power plant is located on the Sinbundong River in North Sumatra Province. It is currently in the development phase and is expected to be commissioned in 2028.
It has been developed by Eco Energy’s affiliate which jointly operates Asahan-1 Hydroelectric Power Plant.