RATCH : under the leadership of Nitus Voraphonpiput committed to Sustainable Growth and moving forwards to Carbon Neutrality in 2050

Nonthaburi: RATCH Group Public Company Limited (RATCH) led by Mr. Nitus Voraphonpiput has announced vision on driving sustainable growth for RATCH Group, as well as carbon neutrality goal in 2050. Under Mr. Nitus's concept of "Make it done, Make it further and Make it better", he will focus and carry out 5 key missions; 1) Ensuring the business strategy on both the power generation and non-power businesses to create long-term values to RATCH and maintain the company's leadership in the industry, 2) Managing balance of investment methods between acquisition of existing operation and greenfields or development projects with an aim to sustain appropriated cash flow and return, 3) Focusing on asset management by ensuring the invested power plants to be a stable and reliable electricity generation source for the country and customers, and generate steady income, 4) Preparing the readiness of financial management for business expansion in Thailand and overseas, and to secure dividends for the shareholders, and 5) Enhancing human resources capability with new essential skills for doing business in the future coupled with embedding sustainable development in work processes and business operations concerning to good governance, environment and society that will strengthen RATCH's foundation for growing stably and sustainably.

Mr. Nitus Voraphonpiput, Chief Executive Officer of RATCH Group Public Company Limited, stated that the business operations of RATCH Group will continue expanding the power business with more precise investment targets to ensure business growth accomplishment along with carbon neutrality goal. For conventional project investment, RATCH will consider the countries having a plan for fossil fuel generation. However, the Company will prioritize on a gas-fired project as it is still accepted in the transition period, and also can be transformed into other types of fuel, where opportunity is available in Thailand and Indonesia according to their power development plan. RATCH will also continue to pursue increasing renewable generation capacity no less than 30% in 2030 in response to its greenhouse gas reduction roadmap and the country's carbon neutrality goal. The existing renewable operation bases; Thailand, Australia, Lao PDR, Indonesia, and the Philippines are the target of investment. At present, the Company has approximately a total of 4,340 MW pipeline projects, whereas its 2024-2030 investment plan sets 700 MW growth each year. For the non-power business investment, it takes into consideration the entire value chain of infrastructure business covering logistics, and healthcare business. It also gives importance to future fuel, especially hydrogen, as well as the innovation and technology that will help enhance the efficiency of assets, such as carbon capture, utilization, and storage systems (CCUS), while the revenue target of the non-power business remains at 5% in 2027. This year, RATCH has allocated an investment budget of 15 billion baht.

"Aside from creating the economic value from investment, the asset and financial management has been focused for generating consistent incomes and sustaining rational returns for the Company and the stakeholders. The conventional and alternative energy power plants located in Thailand, Lao PDR, Australia, and Indonesia, are our primary revenue sources. We plan to enhance efficiency of asset management in particularly performance monitoring and ESG (Environment, Social, Governance) risk management processes. Additionally, funding sources will be prepared to support the business expansion both power generation and new businesses, while cost, liquidity, and returns for shareholders is properly managed. More importantly, we will emphasize on employees' capability and potentiality enhancement by equipping them with new needed skills for the digital age and energy transition. It also gives importance to implant principles of environment, society and governance, and integrate them into internal work processes of the organization and its subsidiaries. It is confident that this approach will enable RATCH to maintain its leadership in the power business, create economic value for steady growth and deliver value creation to society and the environment continuously," Mr. Nitus said.

Furthermore, RATCH aims to enhance its environmental, social, and governance performance in particularly its materiality on climate change, community engagement, human rights, customer satisfaction, supply chain management, anti-corruption, cyber security, and personal data protection. To date, internationally accepted principles and standards of those material aspects have been applied and the outcome obviously appeared. Regarding climate change, RATCH has committed the carbon neutrality goal by 2050 and has outlined three approaches for decarbonization, in which 2030 is targeted to reduce the intensity of greenhouse gas emissions by 15% from the base year of 2015, to increase green business investment and renewable generation capacity to 30% of the total capacity, and to offset or remove carbon from forest conservation by 1% of total emissions in Thailand.