Ratch Group Public Company Limited (RATCH) informed that An Binh Energy and Infrastructure Fund (ABEIF), which RATCH is holding ownership interest of 49%, has made its first investment in the power generation sector. ABEIF has acquired 45% indirect ownership of Thang Long Power Plant – an operating coal-fired power plant in the North of Vietnam for an amount of VND 3,601,004,640,000 equivalent to approximately THB 4,920 million.
Thang Long Power Plant is one of the largest currently operating coal-fired power plants under the Build-Own-Operate framework located in the North of Vietnam with a gross capacity of 620 MW. The plant has a 25-year Power Purchase Agreement with the state-owned Vietnam Electricity. The plant is fully operational and a key contributor to the Vietnam power grid.
The investment is in-line with the ABEIF and also aligns with RATCH’s long-term strategy to expand its portfolio and to invest in high-quality assets with long-term revenue visibility and strong counterparties.