Thailand Ratch Group acquires major stake in 29.7 MW wind power project in Vietnam
Thailand’s Ratch Group Public Company Limited has acquired a 51% stake in the 29.7-MW Thanh Phong Wind Power Plant project in Vietnam’s Mekong Delta province of Ben Tre.
In a Monday release, Ratch said its indirect subsidiary RH International (Singapore) Corporation Pte. Ltd. has purchased shares of a business to invest in the wind power project. With the purchase, Ratch holds an indirect stake of 51% in the power project, also called Ecowin.
The project is operated by Vietnam-based Ecowin Energy Corporation, a joint venture 51% owned by Ratch. Commercial operation of the project began on September 29, 2023 Ratch added. The electricity production will be dispatched to state utility Vietnam Electricity (EVN) per a 20-year power purchase agreement (PPA).
Ecowin wind power plant is Ratch’s third renewable energy project in Vietnam, following Song Giang 2 and Coc San hydropower projects with a total capacity of 49.63 MW, according to Ratch.
The firm is progressing two more projects, namely Song Giang 1 hydropower and Ben Tre wind power, aiming for commercial operation in 2024 and 2025, respectively, said Ratch CEO Choosri Kietkajornkul.
Vietnam is a key destination in the firm’s strategic plan, thanks to its continuous economic growth and its power development plan (PDP) with ambitious goals on renewable energy, the executive added. “The company foresees a sound investment opportunity on renewable energy expansion in Vietnam market.”
Currently, Ratch’s renewable energy portfolio reaches 2,933 MW, or 27% of its energy portfolio. The renewable energy operation includes 669.1 MW in Laos, 549.8 MW in the Philippines, 123.1 in Indonesia, 114.78 MW in Vietnam, 94.8 MW in Thailand, and 2.1 MW in Japan.
- Read More
Malaysia accelerates transition towards high-income country status
The Malaysian government needs to focus on innovation during its drafting of the 13th Malaysia Plan (13 MP) for 2026-2030 in an effort to achieve its high-income country goal.
Southeast Asia - Mon, December 16, 2024 | 10:30 pm GMT+7
Malaysia welcomes ex-Thai PM Thaksin to be its informal adviser on ASEAN
Malaysian Prime Minister Anwar Ibrahim has appointed former Thai PM Thaksin Shinawatra as an informal adviser to assist with the country’s ASEAN chairmanship in 2025.
Southeast Asia - Mon, December 16, 2024 | 10:28 pm GMT+7
Footwear giant Taekwang to spend $19.7 mln on Lunar New Year bonus in Vietnam
South Korean-invested Taekwang Vina JSC, a supplier of Nike in the southern province of Dong Nai, will spend over VND500 billion ($19.7 million) on Lunar New Year (Tet) bonus for its nearly 36,000 employees.
Companies - Mon, December 16, 2024 | 9:56 pm GMT+7
Hong Kong's Sunwah Group eyes investment in southern Vietnam
Multi-sector group Sunwah is keen on surveying several Binh Duong-based industrial parks and foreign-invested enterprises in the areas of high-tech industries, health care, education, and real estate to explore investment opportunities.
Industries - Mon, December 16, 2024 | 8:25 pm GMT+7
Taiwan’s Wistron aims to run $24.5 mln Vietnam plant next month
Taiwan-headquartered Wistron, a top electronics provider and a supplier to Apple, plans to officially start operating its $24.5 million investment in the northern province of Ha Nam next month.
Industries - Mon, December 16, 2024 | 4:41 pm GMT+7
Hanoi plans $420 mln horse racecourse
The Hanoi People's Committee has approved a detailed plan for the Soc Son Urban Area (Zone III), featuring parks, schools, hospitals, high-quality housing, and a $420 million horse racecourse.
Real Estate - Mon, December 16, 2024 | 4:35 pm GMT+7
Vietnam’s cement giant Vicem logs over $55 mln loss in 2024
Vietnam National Cement Corporation (Vicem) has suffered losses for the second consecutive year, with an estimated consolidated figure of VND1.4 trillion ($55.15 million) for 2024, according to a draft annual report by the Ministry of Construction.
Companies - Mon, December 16, 2024 | 4:18 pm GMT+7
Leading broker VPS launches new brand identity
VPS Securities JSC (VPS), a leading broker in Vietnam, officially unveiled its new brand identity on Monday.
Companies - Mon, December 16, 2024 | 3:12 pm GMT+7
VSIP Can Tho in southern Vietnam completes 96% of site clearance, 100 hectares leased
Vinh Thanh Industrial Park (IP), also known as VSIP Can Tho, in Vietnam’s Mekong Delta city of Can Tho, has completed 95.98% of the site clearance.
Industrial real estate - Mon, December 16, 2024 | 12:32 pm GMT+7
Masan Consumer promotes Vietnamese cuisine to international friends
Masan Consumer, the consumer goods arm of Masan Group, recently showcased its products at the 2024 International Food Festival in Hanoi, helping promote the unique cuisine of Vietnam to visitors from across the globe.
Companies - Mon, December 16, 2024 | 11:08 am GMT+7
Dairy giant Vinamilk to spend over $41 mln on interim dividend payment
Vinamilk, the largest dairy firm in Vietnam, plans to spend VND1.045 trillion ($41.3 million) to pay interim cash dividends to shareholders for the second phase of 2024 at a rate of 5%, according to the company.
Companies - Mon, December 16, 2024 | 10:43 am GMT+7
Universal Scientific Industrial to expand Vietnam investment to $290 mln
Mainland China-based Universal Scientific Industrial (USI), an electronics supplier under Taiwan-based ASE Technology Holding, will increase its investment in Vietnam to $290 million.
Industries - Mon, December 16, 2024 | 10:33 am GMT+7
Vietnam property market in the hands of large developers: Savills
Throughout this year, the Vietnamese real estate market has only truly been active for large, well-established developers, according to Savills Vietnam.
Real Estate - Mon, December 16, 2024 | 8:17 am GMT+7
Top 50 signals the recovery of Vietnam's economy
Vietnam's Top 50 Best-performing Companies of 2024 have solid fundamentals, strong management, and substantial room for growth, says Nguyen Thanh Thao, CEO of Thien Viet Securities Joint Stock Company (TVS).
Companies - Mon, December 16, 2024 | 8:00 am GMT+7
Investment policy adjusted for $59 mln wind power project in central Vietnam
Quang Tri province authorities recently approved an adjustment to the investment policy for Hai Anh wind power plant project, with Hai Anh-Quang Tri Wind Power JSC as its investor.
Energy - Sun, December 15, 2024 | 10:06 pm GMT+7
Latvian man on trial for running loan shark ring with 1,380% interest rate
The Ho Chi Minh City People’s Court is holding the first-instance trial of Aigars Plivės, a 39-year-old Latvian national, for engaging in illegal lending through online platforms with interest rates as high as 1,380% per year, earning VND4.15 trillion ($163.35 million) in illicit profits.
Society - Sun, December 15, 2024 | 8:11 pm GMT+7