Ratchaburi Electricity Generating Holding has completed the acquisition of 50 per cent of ordinary shares of KK Power Co, marking its first foray into Cambodia.
The investment of US$500,000 (Bt15.3 million) was completed on Tuesday 21st February,2012. KK Power is a developer of power plants in Cambodia.
In a statement released yesterday, Ratch CEO Noppol Milinthanggoon said the investment followed a thorough study and risk evaluation to ensure that it was worthwhile and would generate a reasonable return. The company foresees ample investment opportunities in the neighbouring country, where infrastructure demand especially in electricity capacity must be improved. Moreover, there is an opportunity to sell excess electricity to Thailand.
“KK Power has officially been granted permission by the Cambodian government to carry out a feasibility study to invest in power plants in Cambodia,” he said.
The new capacity in Cambodia is expected to help Ratch achieve its goal of raising its generating capacity to 7,800 megawatts by 2016