Thai Ratchaburi divests holding in Siam Ethanol

BANGKOK, Sept 22 (Reuters) - Thai utility Ratchaburi Electricity Generating Holding PCL RATC.BK said on Monday it had sold its 15 percent stake in Siam Ethanol Exports Co to Siam Gas and Petrochemicals SGP.BK for 45 million baht ($1.3 million).

The country's largest private power producer said in a statement it had invested in the ethanol maker because it wanted to study the possibility of using biogas from the project's waste water to generate electricity.

The divestment was because the planned biogas power plant project was not worth investing in, it said.

Ratchaburi has a generating capacity of 4,347 megawatts, accounting for about 14 percent of Thailand's total.

Siam Gas is Thailand's second largest liquefied petroleum gas distributor.

At 0345 GMT, Ratchaburi shares were down 0.7 percent at 34.75 baht, while the main Thai stock index .SETI was 0.04 percent higher. ($1=34.08 Baht) (Reporting by Khettiya Jittapong; Editing by Alan Raybould)