Thailand’s largest wind power developer and operator by capacity, Wind Energy Holding (WEH), recently announced its target to double its electricity generation capacity to 1,500 megawatts (MW) over the next five years while also diversifying into healthcare.
The company’s plan to achieve growth from the current capacity of 717MW is planned through asset acquisitions and new energy development projects in Thailand and abroad. Within the five-year period, the chief executive of WEH expects the company’s revenue to increase to THB 15 billion (USD 400 million), from THB 10.9 billion (USD 290 million) in 2021.
WEH expects that its 2022 revenue will grow by a range of 5-7%, thanks to a 6% increase in the electricity tariff granted under a power purchase agreement with the state-run Electricity Generating Authority of Thailand (Egat). Revenue rose by 10% in 2021.
WEH is currently supplying electricity to Egat from eight wind farms, which have a total of 270 wind turbines. WEH highlighted that it is looking to develop more renewable energy projects, including solar and wind power schemes overseen by the Energy Regulatory Commission. WEH is also interested in opportunities in clean energy businesses abroad.
(Sources: Hua Hin Expat News; Bangkok Post)