Ratchaburi Electricity Generating Holding Public Company Limited has reported that its subsidiary RATCH-Australia Corporation (RAC) has acquired additional 50% equity of Mount Emerald Wind Farm in Australia from Port Bajool, with a value of AUD10 million (US$7.5 million).
As a result, RAC owns the entire stakes in Mount Emerald Wind Farm Pty, with a capacity of 180 MW, increasing RAC's total capacity to 654 MW. Consequently, RATCH’s equity capacity increases to 6,957 MW.
The AUD380 million (US$284.8 million) Mount Emerald wind farm is located on 2,400-hectare land in the north of Queensland, Australia. The project construction will install 53 wind turbines, with 3.45 MW each. The wind farm expects to be completed and commercially operated in 2018.
Mr. Rum Herabat, RATCH CEO, said:
“The Mount Emerald wind farm development by RAC has progressed consecutively. It was approved by relevant authorities in November 2015 and successfully agreed in the 13-year power purchase agreement (PPA) with Ergon Energy --the state-owned enterprise of Queensland who will purchase electricity and Green Energy Certificates produced by the project until 2030. The transaction does not only strengthen RAC’s financial position, but also extend our renewable business where Australia is our main investment destination. To date, RATCH's equity renewable capacity in Australia reaches 198 MW from RAC's four wind farms. In addition, RAC has other two renewable projects in development pipeline, including a wind farm and a solar farm, with combined capacity of 232 MW.”