43901 - RATCH Loan

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Summary of Investment Information

Project Number

43901

Company Name

RH INTERNATIONAL (SINGAPORE) CORPORATION PTE. LTD.

Date SPI Disclosed

Jul 7, 2021

Country

Thailand

Region

East Asia and the Pacific

Projected Board Date

Jun 28, 2021

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jul 31, 2025

Department

Regional Industry - INF Asia & Pac

Industry

Infrastructure

Previous Events

Approved : Jun 28, 2021
Signed : Jun 30, 2021
Invested : Apr 1, 2022

Sector

Electric Power Other (Including Holding Companies)

Project Description

IFC has provided US$130 million Sustainable Loan to RH International (Singapore) Corporation (Singapore) Pte. Ltd. (“RHIS”), a wholly-owned indirect subsidiary of RATCH Group Public Company Limited (“RATCH” or “the Company”). RATCH is one of the largest private sector power generating company in Thailand, contributing 11% of total installed generation. The Company owns and operates power generation assets of 9,448.83 MW and has another 1,366 MW projects in pipeline. RATCH has power generation assets across Thailand, Australia, Lao, Vietnam, The Philippines and Indonesia and investments in other infrastructure businesses, such as – transport, telecom, water, and healthcare in Thailand. RHIS is the investment holding company for all of RATCH’s international operations.

As part of their corporate mission, RATCH has set clearly defined Sustainability goals, one of which is increasing the Company’s renewable energy portfolio to 30% of total capacity by 2030 (from 27% at present). RATCH used the Sustainable Loan to increase their equity stake in Fareast Renewable Development Pte Ltd (“Fareast”) to increase their indirect shareholding (the “Project”) in PT Badradaya Sentranusa (“BDSN” or the “Project Company”).

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	150.0
Equity

Development Impact

The Project is expected to lead to positive stakeholder effects arising from supporting the Project through the Sustainable Loan. As public awareness of climate change and social disparities continue to grow, more infrastructure companies are seeking to shift their businesses towards more sustainable models which support the achievement of NDCs and meet investor demand for investments that are both profitable and contribute positive environmental and social impacts. The Project is expected to demonstrate to other infrastructure companies in Thailand the application of a sustainable finance framework which adopts international principles on project evaluation and selection, management of proceeds, and reporting. This is expected to help the Company effectively utilize relatively new financing instruments such as sustainable loans which would provide flexibility to fund a combination of eligible green and social projects.

IFC is providing long-term financing through a Sustainable Loan, and this will be the first such financing by an infrastructure company in Thailand. This financing is expected to help further diversify the Company’s funding base amid growing interest from investors for climate finance transactions. IFC will provide guidance to help the client articulate and refine its sustainability strategy and develop a sustainability finance framework as it expands its sustainable reach into renewable and other infrastructure sectors in Thailand and overseas. In doing so, IFC will provide training on the IFC Definitions and Metrics for Climate Related Activities and Green Loan Principles, and the Social Loan Principles.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Direct Employment (#) - Operations and Maintenance	Employment (#)		Not Available	Not Available	Not Available
Female Direct Employment (#) - Operations and Maintenance	Female Employment (#)		Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

This is a category B project according to IFC’s Policy on Environmental and Social Sustainability. The Fareast and Princ investments, where IFC proceeds are to be used are category B projects as described in their respective ESRS disclosures. For any future projects to be financed with IFC proceeds, RATCH will select only projects with limited E&S risks and impacts that do not result in: significant involuntary resettlement; impact on lands to which ethnic minorities maintain collective/ancestral attachment; significant impacts on biodiversity; or significant occupational health and safety risks. Hence, the key risks and impacts will therefore be limited, few in number, site specific, and largely reversible. Any adverse impact can be minimized, avoided or mitigated by adhering to generally recognized international industry performance standards, guidelines, or design project criteria.

RATCH will be required to implement specific procedures as part of its ESMS targeted at the projects where IFC’s proceeds are used to ensure that: (a) Fareast and Princ meet IFC PSs; and (b) any future project to be financed with IFC proceeds, is developed and operated in accordance with IFC PSs.

Contacts

For Inquiries About the Project, Contact

RATCH Group Public Company Limited
Monsicha Boonyapas
Head of Financial Planning Department
+66 (0) 2794 9851
Monsichab@ratch.co.th
RATCH Group Public Company Limited, 72 Ngam Wong Wan Road, Bangkhen, Muang, Nonthaburi, 11000 Thailand
www.ratch.co.th

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Local Access of Project Documentation

Monsicha Boonyapas

Telephone Number : +66 (0) 2794 9851

Email: Monsichab@ratch.co.th

Address : RATCH Group Public Company Limited, 72 Ngam Wong Wan Road, Bangkhen, Muang, Nonthaburi, 11000 Thailand

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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