From the Nation Newspaper – 9 April 2012(breaking news)
To achieve 617 megawatts of generating capacity by 2016, Wind Energy Holding is planning to mobilise funds on the stock market by 2014 to finance Bt40-billion worth of wind-powered plant projects
However, its long-term investment plan to reach 1.17 gigawatts by 2020 will require Bt36.3 billion to add capacity of 550MW.
The company’s vision is to become not only Thailand’s biggest wind power producer but also the region’s by exploring more opportunities in Vietnam, Indonesia, the Philippines, India and further to the European Union and United States with combined capacity of 1GW.
“The investment abroad will help diversify the company’s business risk and to maintain its income through its targeted production capacity of 2GW by 2020,” Nopporn Suppipat, founder and director of the company, said last week.
The company is preparing to launch an initial public offering (IPO) to ensure the listing on the Stock Exchange of Thailand in 2014.
The company has already lined up three plant projects. The IPO proceeds will also support three more plants that will be constructed in this period.
So far, the company has secured power purchase agreements from the Electricity Generating Authority of Thailand (Egat) for five plants with |total capacity of 450MW. Egat will |allow the company to charge an adder |of Bt3.5 per unit through the 10-year contract.
The electricity supply will come from the 103.5MW West Huay Bong III plant now under construction in Nakhon Ratchasima. The Bt6.5-billion plant is being co-developed by its subsidiary First Korat Wind Co and Aeolus Co. The plant is 30 per cent complete and scheduled to start providing electricity this year.
The 103.5MW West Huay Bong II plant will be developed at a site near West Huay Bong III by Aelous and KR Two Co for Bt6.5 billion with first production set for next February.
The company’s three-year business plan (2012-15) calls for five plants to be built at a total cost of Bt7.1 billion. Watabak Wind Co will develop a 70MW power plant in Chaiyaphum next year for Bt4.5 billion and Krissana Wind Power Co will develop a 40MW plant in Nakhon Ratchasima in 2014 for Bt2.6 billion with the first electricity to be produced in 2015.
From 2014-16, Bt20 billion will be used to set up three 100MW wind power plants in Nakhon Ratchasima called Korat 02/1, Korat 02/2 and Korat 02/3.
Korat 02/1 will be developed by Theparak Wind Co and Korat 02/2 by Tropical Co with construction commencing in 2014 and production expected in 2016. Korat02/3 will be developed by KRS Three Co with construction to start in 2015 and production to start in 2016.
The company has conducted a study on wind speeds in the past five years to ensure the success of the plans. Each project will be located 300 metres above sea level.
Renewable Energy Corp holds 70 per cent of Wind Energy Holding and Demco the rest. Last year, Wind Energy raised its registered capital from Bt500 million to Bt1 billion.