Greentech Lead Asia: Wind Energy Holding Co (WEH),
Thailand’s first private wind turbine operator, will invest 40 billion baht in
seven wind turbine farms in four years.
The company is developing the first three projects –
Huay Bong 2 and 3 in Nakhon Ratchasima and Watabak in Chaiyaphum. The
three projects, worth 13 billion baht, have a combined capacity of 276
WEH invested in Huay Bong 2 and 3 through its wholly
owned subsidiary Aeolus Co, which controls 60 percent in the two projects.
Ratchaburi Electricity Generating Holding and Chubu
Electric Power hold 20 percent stake each in the two projects.
Construction of Huay Bong 2 and 3 already started this
year and the two farms are scheduled to start operations in February and
October next year, respectively.
The company is looking for strategic partners for Watabak,
which it expects to develop next year.
The remaining four licences will be developed from 2014
to 2016, with a total capacity at 340 MW. They comprise Korat 2/1, 2/2, 2/3 and
North Krissana with total investment of 26 billion baht.
“We plan to list on the Stock Exchange of Thailand
in 2014 in order to raise capital for project expansion in the future,”
said Board chairman Noppon Suppipat.
The company set a long-term investment plan for wind
farms to have a capacity of 2,000 MW by 2020, with half of the total coming
from Thailand capitalizing on the government’s commitment to support renewable
Another 500 MW would come from Southeast Asia and India,
which are committed to renewable energy. The remaining 500 MW will come from
South America and the US.
The company started a survey on the power markets in
Vietnam and the Philippines because they have strong wind.
The Energy Ministry is expected to issue more licences
for wind turbine farms after the government endorsed a revised 20-year renewable
energy plan that aims to raise its share to 25 percent of Thailand’s
consumption by 2021, up from a previous target of 20 percent.
WEH also plans to set aside funding for local community
welfare development and agriculture.