Nexif Ratch takes over Minh Luong hydro plant in Lao Cai

The acquisition contributes to strengthening the Nexif Ratch Energy portfolio's growth path in renewables and will create a stable and recurring income through a long-term power purchase agreement.

The plant, developed and constructed by the seller Nam Tien Group, has been commercially operating since April 2018 with its electricity generation purchased by a subsidiary of state-owned electricity company Vietnam Electricity (EVN) through a 20-year power purchase agreement.

Matthew Bartley, director and interim CEO of Nexif Ratch Energy said, "The acquisition of the plant further expands Nexif Ratch Energy's operating portfolio in Vietnam. It builds upon our historically successful track record in small hydro in Vietnam and supplements our existing two operating/under-construction Song Giang hydro projects. With our expertise in hydro operations, we are confident in optimising this asset to create a robust income stream for Nexif Ratch Energy."

Sakarin Tangkavachiranon, director of Nexif Ratch Energy added, "We are excited to achieve the first acquisition of a project under the Nexif Ratch Energy platform. This marks another success in 2023 after our recent achievement of financial close and construction commencement of a 74 MWp solar farm in the Philippines. We are anticipating two additional projects to come into operation or commence construction in early 2024."

Nexif Ratch Energy, a joint venture company owned 51 per cent by Nexif Energy of Singapore and 49 per cent by Ratch Group of Thailand, is headquartered in Singapore with country offices presently in Australia, Philippines, Vietnam and Thailand.

It has a portfolio of over 3,900MW under ownership and management across Southeast Asia and Australia. The new platform is set for fast growth, benefitting from Nexif Energy's and Ratch's proven power expertise and track record as it converts the pipeline and adds new projects.

Nexif Energy acquires 49MW Song Giang hydropower project in Vietnam Nexif Energy has acquired 94 per cent of the equity of Song Giang Hydropower JSC, a company that owns two run-of-the-river hydropower projects in cascade on the same river totalling 49MW in the central province of Khanh Hoa.

Thai RATCH shakes hands with Geleximco to invest in An Binh energy fund RATCH Group Pcl., through wholly-owned subsidiary RH International (Singapore), will acquire a 49 per cent stake in An Binh Energy and Infrastructure Fund (ABEIF), with the rest taken up by Geleximco to cooperate on joint developments in Vietnam.

Thai group Ratch scoops up 51 per cent of wind farm Thailand's Ratch Group Public Co., Ltd. has bought a 51 per cent stake in the 29.7MW Ecowin wind power project in the Mekong Delta province of Ben Tre.