WIND ENERGY HOLDING WIND FARM PROJECTS ON TRACK

Energy Press Releases Wednesday August 8, 2018 14:37
Bangkok--8 Aug--Wind Energy Holding

Wind Energy Holding Co., Ltd. ('WEH' or the 'Company'), one Southeast Asia's leading renewable energy companies, announced in a progress update that it has made significant progress on its five onshore wind power projects, totalling 450 MW. The windfarms, which are located in the Nakhon Ratchasima and Chaiyaphum provinces and collectively referred to as the 'T5' projects.

The T5 projects have been supplied by both Vestas and General Electric ('GE'). Vestas, who is supplying turbines for two of the projects, have installed all of their 60 V136-3.0 MW turbines. GE who is supplying 90 of their GE3.43-137 turbines for the remaining three projects are at various stages of installation. GE has also completed the construction of six new substations as part of the grid infrastructure being built for all five of the projects.

All of the T5 projects remain on track with the last project expected to be delivered by Q1 2019.

Nop Narongdej, Vice Chairman of the Board of WEH, said, "We are extremely pleased with the progress on the T5 wind farm projects. Once complete, 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."

The T5 projects announced financial close in November 2017, with the THB 37 billion (US$ 1.1 billion) financing arranged and wrapped by Siam Commercial Bank ('SCB').

Thun Reansuwan, Chief Financial Officer of WEH added: "SCB has been a core partner for WEH in its journey and with SCB's strategic focus on the renewable energy sector, we look forward to working with them going forward".

The financing by SCB ensures that WEH must comply with stringent undertakings together with financial and non-financial convents typical in financings of this nature. WEH continues to meet all of its material obligations and works closely with the SCB team who is consistently apprised of WEH's progress.


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