Creating long-term value through the energy transition

RATCH Group is one of Thailand’s leading investment holding companies in power generation and infrastructure, with a vision to become a leading value-oriented energy and infrastructure company in Asia Pacific. Listed on the Stock Exchange of Thailand (SET), the Electricity Generating Authority of Thailand (EGAT) is our major shareholder, holding a 45% equity stake. This strong shareholder base supports our long-term growth and reinforces investor confidence in our strategy and commitment to sustainable value creation.

Today, our generation portfolio comprises 9,483.99 MW of equity installed capacity from conventional and renewable power plants, with investments spanning Thailand, Australia, Lao PDR, Indonesia, Vietnam and the Philippines, while continuing to explore new opportunities in other business related to energy transition and future energy to strengthen long-term enterprise value and support global net zero ambition.

Capturing growth opportunities in an energy transition landscape 

Southeast Asia’s energy transition is reshaping investment across the entire energy value chain. According to the International Energy Agency (IEA), the region will account for around 20% of global energy demand growth through 2035, while Thailand’s forthcoming Power Development Plan (PDP 2026–2050) is accelerating renewable energy, grid modernisation, battery energy storage, transmission infrastructure, and new market mechanisms such as Direct Power Purchase Agreement.

For RATCH, these developments create opportunities well beyond expanding generation capacity. Our strategy focuses on investing across the broader energy ecosystem through renewable integration, hybrid energy systems, industrial power solutions, and strategic asset optimisation. We are creating new growth by optimising our existing assets and utility ecosystem, particularly in supporting digital infrastructure and data centres.  

We are positioning the company for the next phase of the energy transition by assessing strategic investment opportunities in sustainable aviation fuel, hydrogen and hydrogen-ready technologies, carbon capture, utilisation and storage, battery energy storage systems, and Small Modular Reactors, alongside digital energy solutions that enhance system reliability, operational efficiency, and long-term sustainability. 

A balanced path to net zero 

At RATCH, we believe the pathway to net zero must balance decarbonisation with energy security and affordability. Our decarbonisation strategy combines renewable energy investment, portfolio optimisation, technology development, and carbon management to achieve our net-zero target by 2050. 

Today, 52% of our equity installed capacity comes from natural gas, reflecting its important role as a transition fuel that provides the flexibility needed to integrate increasing levels of renewable energy while maintaining grid reliability. At the same time, renewable energy represents 31.43% of our portfolio, with 1,354 MW currently under development.  

Over the longer term, we aim to increase renewable energy to more than 50% of our portfolio by 2040, while progressively expanding investments in low-carbon businesses and technologies. By 2050, our ambition is to achieve more than 80% renewable energy alongside wider deployment of low-carbon solutions that reduce emissions from our conventional power plants and support our net-zero commitment. 

This roadmap is already being translated into action. Australia has become RATCH’s renewable energy growth platform, combining wind, solar, battery energy storage, and flexible gas-fired generation to support renewable integration and grid reliability. In the Philippines, we continue to expand our renewable energy portfolio through wind and solar projects, while in Thailand, we pursue to increase investment particularly in renewables and adjacent growth businesses including healthcare and industrial utilities.  

Powering the sustainable future together