Wind Energy Holding raises US$1.1b for wind farm projects

The projects are expected to be commissioned as early as 2Q18.

Wind Energy Holding announced that they have successfully closed financing for five of the Company’s onshore windfarms totalling 450 MW.

The investment for all five of the projects will total THB37b (US$1.1b). When complete, by Q1 2019, the five wind farms will add to WEH’s existing 270 MW of operating capacity.

All of the financing was fully arranged and wrapped by Siam Commercial Bank (‘SCB’). Financial close for the five projects comes on the heels of the commissioning of the Company’s 60 MW Watabak project in December 2016, which was also project financed by SCB.

The windfarms, located in Northeast Thailand in the Nakhon Ratchasima and Chaiyaphum provinces will be supplied by both Vestas and General Electric (‘GE’). Vestas, will supply 60 of their V136-3.0 MW turbines which will be the first of their kind in the Asia Pacific region.

With a hub height of 157 meters, they will also host the tallest towers in the region to date. GE will supply 90 of their GE3.43-137 turbines with an innovative steel-concrete hybrid tower. GE Power will also construct six new substations as part of the grid infrastructure being built for the projects.

The projects have started construction and are expected to achieve commercial operations over the course of Q2 2018 – Q1 2019. Upon completion, WEH will have developed and constructed 720 MW of onshore windfarm capacity in Thailand, making it the single largest wind power developer and operator in the country and Southeast Asia.