- Allocates 4 billion Baht budget this year for project development and new investment
- Expects to increase 800 megawatts installed capacity this year
Ratchaburi Electricity Generating Holding Public Company Limited today announces the Company and its subsidiaries’ operating performance of 2009, which records net profit of 6,740 million Baht increasing 3.8% from 2008 or equivalent to 247 million Baht. It represents 4.65 Baht of earnings per share.
Mr. Noppol Milinthanggoon, the President of Ratchaburi Electricity Generating Holding PCL. (“Ratchaburi Holding”) discloses that the Company actively continues seeking for opportunities to build sustainable growth and strengthen its financial statement. According to the Company’s 2010 business strategy, Ratchaburi Holding will focus more on acquisition of operated power plants in aboard aiming to gain the prompt return on investment. In regards to domestic investment, the SPP and VSPP projects are our priority as well as renewable energy from agricultural waste biomass, solar cell and also wind energy in order to support the government renewable energy policy. It is expected that the Company would increase about 800 MWs deriving from projects having significant developing progress in this year and high potential income generating in the future. They include 751 MW-Hongsa Thermal Power Plant (accounted for 40% equity holding), 9 MW-renewable energy from agricultural waste biomass project, 110 MW-Nam Ngum 3 Hydroelectric Power Plant (accounted for 25% equity holding) and 18 MW-Wind Power Project (accounted for 30% equity holding).
For the overall operating performance of 2009, the Company remains net profit growth as projection, which net profit in 2009 records 6,739.60 million Baht increasing by 3.8% or 246.70 million Baht from last year. This resulted from the increase of shared profit of its joint ventures accounted at 1,720.71 million Baht, higher by 84.68% or equivalent to 789.01 million Baht compared to 2008, which mainly generated from Ratchaburi Power Company Limited where its two-combined cycle fully operated. Thanks to the success of interest rate reduction with financial institution lenders and the consistent principal repayment, the interest expense was substantially declined by 432.27 million Baht in 2009. Nevertheless, in 2009 the Company paid 830.94 million Baht income tax increasing by 613.59 million Baht from the previous year, resulting from the expiration of the BOI’s tax exempt of Thermal Power Plant Unit 1 and 2 of Ratchaburi Power Plant since October 2008.
In 2009, the Company realizes total revenue of 37,653.83 million Baht. Besides, the shared profit from the joint-ventures of 1,720.71 million Baht, Ratchaburi Holding earns 35,350.59 million Baht from sales revenue, 139.67 million Baht from management and service fee, 258.45 million Baht from interest income and 184.41 million Baht from other incomes. Whereas, the Company’s cost of sales and expenses was 29,222.19 million Baht, dividing into 28,530.84 million Baht cost of sales and 691.35 million Baht administration expense. However, it was exclusive the interest expense of 861.10 million Baht and the income tax of 830.94 million Baht, which the Company was committed to pay in 2009.
“In 2010, the Company allocates investment budget of 4 billion Baht for developing six joint-venture projects and other prospective projects. Currently, there are three developing projects, which have significant progress. Nam Ngum 2 Hydroelectric power plant would expect to start impounding in March 2010. Hongsa Thermal power plant is likely to sign the Power Purchase Agreement (PPA) with EGAT within the first quarter of this year. Regarding a 60 MW-Wind power project in Phetchabun, it is going to start its construction. Furthermore, Nam Ngum 3 Hydroelectric Power Plant is expected to sign the Tariff MOU with EGAT in the beginning of the year. Moreover, the Company expects to gear up new investments, which aims at least one of renewable energy project this year. In near future, Ratchaburi Holding tends to accomplish the joint venture agreement for a project of renewable energy from agricultural waste biomass with 9 MW.” Mr. Noppol added.
Company’s Information
Established in March 2000, Ratchaburi Electricity Generating Holding PCL is a leading independent power producer in Thailand with 4,347 MW total effective installed capacity. They derive from a 3,645-MW Ratchaburi’s Power Plant (99.99% stakeholding), a 350-MW Tri Energy’s Power Plant (50% stakeholding), a 350-MW Ratchaburi Power’s Power Plant (25% stake holding), and a 1.75-MW power generating from associated gas, Pratu Thao Power Plant in Sukhothai province, which the Company currently invests in the expansion of 0.875 MW-Pratu Thao Power Plant. Furthermore, There is 4 projects under development in Lao PDR with total capacity 1,108 MW according to equity holding, which consists of a 153.75-MW Nam Ngum 2 Hydroelectric Power Plant (25% stake), a 751-MW Hongsa Termal Power Plant (40% stake), a 110-MW Nam Ngum 3 Hydroelectric Power Plant (25% stake) and a 98-MW Xe-Pian Xe-Namnoy Hydroelectric Power Plant (25% stake). For renewable energy development, the Company invests in Wind Power Project in Phetchabun with capacity proportion of 18 MW (30% stake). The Company aims to achieve the total installed capacity of 5,479 MW from its investment and developing projects.
As of December 31, 2009, the Company’s total asset was 69,341.82 million Baht, consisting of the current asset of 19,196.40 million Baht and the non-current asset of 50,145.42 million Baht. The Company’s total liabilities were 24,817.68 million Baht, a decrease of 3,880.22 million Baht from 2008, and the total shareholders’ equity was 44,524.14 million Baht. The Company’s financial status is demonstrated by its ratio of debt to equity at 0.56 times and debt service coverage ratio at 2.55 times
Saturday, January 30, 2010
Sunday, January 24, 2010
EEI all out in 2010 with energy management business, hoping to raise over 80 million baht
in revenue after joining forces with Burns and Roe Asia, leading engineering firm from the United States to bolster service capabilities
Mr. Arthit Vechakij Managing Director of Excellent Energy International Company Limited (EEI) disclosed that in the last 11 years, his company had proved to be a leading Energy Service Company (ESCO) in Thailand with recognition including ESCO Excellence Award 2009 from the Federation of Thai Industries (FTI) supported by Department of Alternative Energy Development and Efficiency (DEDE),Ministry of Energy. “Our clients also commended with several recognitions for their efficiency. These companies include Thai Yamaha Motor Co., Ltd., Grand China Princess Hotel, Dusit Princess Hotel in Korat and Royal Princess Hotel Chiang Mai as they are selected to be successful business operators using the ESCO system in 2009 (ESCO Project Award 2009). This is the 2nd year in a row for EEI to have its clients nominated for the award and receive privileges as well as support from the government sector. There are still several other projects that have made our company proud such as services provided to Thai Beverage, 4 new cogeneration power plants development for CPF, Energy Management System (EMS) for Pataya Food Industry, manufacturer of Nautilus canned tuna, whose confidence has resulted in repeat order. In addition, EEI is the consultant for Department of Industrial Promotion, making industrial and business operators having greater confidence in the company. Our latest move to strengthen our position is the cooperation with Burns and Roe Asia, leading integrated engineering company from the United States. The firm, which has already been accepted for expertise by several companies operating in Thailand, is considered a fresh development in Energy Service Company (ESCO) business in Thailand,” he said.
Mr. Arthit Vechakij said: “The cooperation between EEI and Burns and Roe Asia was a result of new opportunity seeking on the part EEI. Discussions were made with Burns and Roe Asia to allow the 2 companies to see good potential together in facilitating to the growing demands from larger size customers. Our services will help make Thai business operators confident and continue relying on ESCO in the future.”
“EEI believe in 2010 it can generate revenue of 80 million baht, which is higher than before by 15%. We predict to help the country save by as much as 200 million baht, as a result of new projects from CPF Group worth 450 million baht, which include 4 new cogeneration power plants that can save up to 117 million baht a year. Projects made in cooperation with Burns and Roe Asia, which is similar to what we have provided to Thai Oil will also help save around 80 million baht a year. Our clients who are business operators believe that investment in energy conservation measures will help them save energy and cost. The rising oil prices of over US$80 per barrel will compel business operators to seek to reduce energy expense in order to maintain costs and create competitive advantages especially in the long run. We are seeing good improvement this year as the government continues to support business operators to seek proper energy management,” he added.
Meanwhile, Mr. Ruamlarp Anantasanta, Deputy Managing Director – Marketing & Business
Development of Excellent Energy International Company Limited (EEI) added on the business direction of EEI in 2010, saying the company would focus its business on what it does best, which would be the Cogeneration Power Plants and Energy Management System (EMS), including the Development and Energy Efficiency Management services “For the past 11 years, Cogeneration Power Plants have been the proud projects of EEI, where success can be proven and accepted widely, from thesuccess of Thailand ESCO Pilot Project with BKP to 4 more Cogeneration Power Plants for CPF Group. We also plan to establish a Energy Management System (EMS) which is the real time monitoring system of power consumption behaviors and coordination among concerned personnel in each area to allow business operators to utilize energy with maximum efficiency to reduce energy costs.
“In the current economic situation, the low investment cost of 5-20 million baht and payback period of only 1-2 years have been our value proposition . This is why our clients trust in our Energy Management System (EMS). EEI is able to develop software suitable to each individual operation following its strong experience and skills in energy management business in Thailand to deliver to each business’s specific needs perfectly. Our service also complies to the recent Energy saving act 2007 with integrated line of services could not be found in other operators. EEI’s unique services include application for necessary approval as required by the laws and regulations, seeking funding support from commercial banks, finding funding sources that provide privileges (special interest rate) in case of energy saving scheme and seeking privileges from the government sector such as financial support, DSM bidding and BOI,” said Mr. Ruamlap.
Mr. Mark Hunt, Managing Director of Burns and Roe Asia, Ltd. stated that his company’s recent cooperation with EEI, a leading Energy Service Company (ESCO) and well trusted by leading Thai operators, is an advantageous and strategic partnership that will benefit both companies’ quality of service. “Burns and Roe Asia’s presence and capabilities will be enhanced by the new opportunities brought forth by EEI. Our joint success will be achieved through a combination of world class services and skills in energy project management in Thailand, while maintaining a beneficial cost structure. We expect to execute at least 1 to 2 energy projects this year with an investment cost of 200-500 million Thai Baht, which will generate savings for Thailand by as much as 100-200 million Thai Baht a year,” he said.
“Thailand’s economy is recovering and moving in a positive direction, and that has a direct impact on domestic energy consumption. According to the Ministry of Energy, at the end of 2009, the amount of energy consumption recorded was higher than that recorded at the same time in 2008. This increase in energy consumption provides evidence that Thailand’s demand for energy is steadily moving in an upwards direction. In addition, the government policy which encourages the use of domestic energy sources and alternative energy, and promotes energy savings initiatives have contributed positively to the country’s energy industry by attracting new investments and expanding existing businesses,” he added.
“Our latest cooperation with EEI will help facilitate the growing energy needs in Thailand and advance the Thai government policy regarding domestic energy management and energy saving campaign. The goal is to find long term energy sources and while curbing the causes of global warming, which will ultimately improve the quality of life in Thailand,” he explained.
Burns and Roe Asia, Ltd. was founded in 1932. The company, with over 1,700 employees worldwide, is specialized in engineering, design, and consulting services in the power generation industry. They provide technical expertise in fossil-fueled power plants, including coal and natural gas combined cycle, as well as in biomass, cogeneration, and nuclear power plants. Studies in advanced technologies and alternative fuel solutions are also offered. Current clients include the Electricity Generating Authority of Thailand (EGAT), Gulf JP, Advance Agro, and GDF Suez.
Mr. Arthit Vechakij Managing Director of Excellent Energy International Company Limited (EEI) disclosed that in the last 11 years, his company had proved to be a leading Energy Service Company (ESCO) in Thailand with recognition including ESCO Excellence Award 2009 from the Federation of Thai Industries (FTI) supported by Department of Alternative Energy Development and Efficiency (DEDE),Ministry of Energy. “Our clients also commended with several recognitions for their efficiency. These companies include Thai Yamaha Motor Co., Ltd., Grand China Princess Hotel, Dusit Princess Hotel in Korat and Royal Princess Hotel Chiang Mai as they are selected to be successful business operators using the ESCO system in 2009 (ESCO Project Award 2009). This is the 2nd year in a row for EEI to have its clients nominated for the award and receive privileges as well as support from the government sector. There are still several other projects that have made our company proud such as services provided to Thai Beverage, 4 new cogeneration power plants development for CPF, Energy Management System (EMS) for Pataya Food Industry, manufacturer of Nautilus canned tuna, whose confidence has resulted in repeat order. In addition, EEI is the consultant for Department of Industrial Promotion, making industrial and business operators having greater confidence in the company. Our latest move to strengthen our position is the cooperation with Burns and Roe Asia, leading integrated engineering company from the United States. The firm, which has already been accepted for expertise by several companies operating in Thailand, is considered a fresh development in Energy Service Company (ESCO) business in Thailand,” he said.
Mr. Arthit Vechakij said: “The cooperation between EEI and Burns and Roe Asia was a result of new opportunity seeking on the part EEI. Discussions were made with Burns and Roe Asia to allow the 2 companies to see good potential together in facilitating to the growing demands from larger size customers. Our services will help make Thai business operators confident and continue relying on ESCO in the future.”
“EEI believe in 2010 it can generate revenue of 80 million baht, which is higher than before by 15%. We predict to help the country save by as much as 200 million baht, as a result of new projects from CPF Group worth 450 million baht, which include 4 new cogeneration power plants that can save up to 117 million baht a year. Projects made in cooperation with Burns and Roe Asia, which is similar to what we have provided to Thai Oil will also help save around 80 million baht a year. Our clients who are business operators believe that investment in energy conservation measures will help them save energy and cost. The rising oil prices of over US$80 per barrel will compel business operators to seek to reduce energy expense in order to maintain costs and create competitive advantages especially in the long run. We are seeing good improvement this year as the government continues to support business operators to seek proper energy management,” he added.
Meanwhile, Mr. Ruamlarp Anantasanta, Deputy Managing Director – Marketing & Business
Development of Excellent Energy International Company Limited (EEI) added on the business direction of EEI in 2010, saying the company would focus its business on what it does best, which would be the Cogeneration Power Plants and Energy Management System (EMS), including the Development and Energy Efficiency Management services “For the past 11 years, Cogeneration Power Plants have been the proud projects of EEI, where success can be proven and accepted widely, from thesuccess of Thailand ESCO Pilot Project with BKP to 4 more Cogeneration Power Plants for CPF Group. We also plan to establish a Energy Management System (EMS) which is the real time monitoring system of power consumption behaviors and coordination among concerned personnel in each area to allow business operators to utilize energy with maximum efficiency to reduce energy costs.
“In the current economic situation, the low investment cost of 5-20 million baht and payback period of only 1-2 years have been our value proposition . This is why our clients trust in our Energy Management System (EMS). EEI is able to develop software suitable to each individual operation following its strong experience and skills in energy management business in Thailand to deliver to each business’s specific needs perfectly. Our service also complies to the recent Energy saving act 2007 with integrated line of services could not be found in other operators. EEI’s unique services include application for necessary approval as required by the laws and regulations, seeking funding support from commercial banks, finding funding sources that provide privileges (special interest rate) in case of energy saving scheme and seeking privileges from the government sector such as financial support, DSM bidding and BOI,” said Mr. Ruamlap.
Mr. Mark Hunt, Managing Director of Burns and Roe Asia, Ltd. stated that his company’s recent cooperation with EEI, a leading Energy Service Company (ESCO) and well trusted by leading Thai operators, is an advantageous and strategic partnership that will benefit both companies’ quality of service. “Burns and Roe Asia’s presence and capabilities will be enhanced by the new opportunities brought forth by EEI. Our joint success will be achieved through a combination of world class services and skills in energy project management in Thailand, while maintaining a beneficial cost structure. We expect to execute at least 1 to 2 energy projects this year with an investment cost of 200-500 million Thai Baht, which will generate savings for Thailand by as much as 100-200 million Thai Baht a year,” he said.
“Thailand’s economy is recovering and moving in a positive direction, and that has a direct impact on domestic energy consumption. According to the Ministry of Energy, at the end of 2009, the amount of energy consumption recorded was higher than that recorded at the same time in 2008. This increase in energy consumption provides evidence that Thailand’s demand for energy is steadily moving in an upwards direction. In addition, the government policy which encourages the use of domestic energy sources and alternative energy, and promotes energy savings initiatives have contributed positively to the country’s energy industry by attracting new investments and expanding existing businesses,” he added.
“Our latest cooperation with EEI will help facilitate the growing energy needs in Thailand and advance the Thai government policy regarding domestic energy management and energy saving campaign. The goal is to find long term energy sources and while curbing the causes of global warming, which will ultimately improve the quality of life in Thailand,” he explained.
Burns and Roe Asia, Ltd. was founded in 1932. The company, with over 1,700 employees worldwide, is specialized in engineering, design, and consulting services in the power generation industry. They provide technical expertise in fossil-fueled power plants, including coal and natural gas combined cycle, as well as in biomass, cogeneration, and nuclear power plants. Studies in advanced technologies and alternative fuel solutions are also offered. Current clients include the Electricity Generating Authority of Thailand (EGAT), Gulf JP, Advance Agro, and GDF Suez.
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