Investment / Wind Energy

Wind Energy

Editorial Team

Wind Energy Holding announced a projection of 15 billion-baht revenue target for the next three years.

Wind Energy Holding (WEH), Thailand’s largest wind energy operator maintained its target to generate a profit of 40–50% annually, and projected to increase wind energy with commercial operation date(COD) capacity to 1,500 megawatts in 5 years.

Mr. Nuttpasint Chet-udomlap, chief executive officer of WEH said the company plans to grow its overall COD capacity from wind power to 1,500 megawatts during the next three to five years.

The plan sets a three-year revenue target of 15 billion baht while preparing to issue debentures to support company growth.

“The company intends to increase its ability to generate electricity and bids for 60 megawatts of solar power projects and 810 megawatts wind projects worth total about 50 billion-baht.”

Mr Nuttpasint Chet-udomlap, chief executive officer of Wind Energy Holding

With the company's existing capital availability, solid financial situation, and manageable debt-to-equity ratio, it is anticipated to go up for auction by the end of 2022.

The company invested in Nusasiri Plc through Thana Power Holding Co as it started to diversify its operations to healthcare and beauty sectors.

In addition, the company planned to seek opportunities in domestic and foreign countries such as Vietnam and other countries which have high growth potential in a bid to handle better risk management and expand opportunities to provide long-term profits.

Mr. Nuttpasint said in order to increase opportunities to generate sustainable income, the company planned to invest in healthcare and wellness.

WEH is a pioneer in Thailand's renewable energy sector, concentrating on the generation and distribution of wind power with a total installed capacity and power plant management capability of 717 megawatts, there are now 8 wind power plants in Nakhon Ratchasima and Chaiyaphum.

The company’s revenue was 9.97 billion baht in 2020, up to 10.98 billion baht in 2021 while It could pay a dividend return on equity of 30.50 baht per share in 2021 due to its annual profitability of between 40 and 50 %.

However, overall revenue in the first half of 2022 was only 5.10 billion baht, with electricity sales revenue being slightly lower than it was during the same time in the previous year as a result of a decline in wind volume.

Mrs. Busakorn Kordumrong, chief financial officer of WEH said the company is getting ready to issue long-term debentures in the name of the holder, non-subordinated categories, with an interest rate of 6.75% annually.

The company makes proposals of up to 2 billion-baht to institutional investors and/or major investors with an aim of an expansion the energy business and investment in other businesses.

The situation for the company's ongoing problems is improving, even though they are still pending in court or arbitration. This applies to both the conflicts between the families of former directors, which the lower court is currently considering and the transfer of shares to Golden Music Limited (GML).

The company anticipated that the disagreement is likely to be resolved by the end of 2023.