Wind Energy Holding Secures Four New Projects
WEH’s licensed capacity surpasses 1,000 MW as revenue and profits maintain strong momentum.
Bangkok, Thailand – Wind Energy Holding Co., Ltd. (WEH), Thailand’s leading wind energy producer, has secured four new renewable energy projects totalling 299.1 megawatts (MW), marking a major milestone in its expansion strategy. With this addition, WEH’s licensed electricity generation capacity has surged by 42% to 1,016 MW, surpassing its longstanding target of 1,000 MW.
The new projects, awarded under Thailand’s Feed-in Tariff (FiT) scheme Phases 1 and 2, include a 30 MW ground-mounted solar plant with energy storage and three wind projects of 89.7 MW each. Backed by THB 15.7 billion in secured investment, these developments are set to begin revenue recognition in 2027, with full realisation expected by 2030.
“This is a pivotal step for WEH as we solidify our position as a regional clean energy leader,” said Mr Nuttpasint Chet-udomlap, Chief Executive Officer. “Reaching over 1,000 MW of licensed capacity confirms our roadmap is on track, and we’re ready to scale up even further.”
In 2024, WEH reported revenue exceeding THB 10 billion for the fifth consecutive year, reaching THB 11.313 billion, while net profit totalled THB 5.388 billion—marking the fourth consecutive year above THB 5 billion.
Key operational highlights included a reduction in the debt-to-equity ratio to 0.74 from 1.01, strong operating cash flow of THB 9.57 billion, and the continuation of dividend payments, supported by healthy cash reserves and consistent performance.
“Favourable wind conditions and high operational efficiency were key drivers,” Mr Nuttpasint added. “We are financially robust and well-positioned for long-term shareholder returns.”
Looking ahead, WEH is preparing more than 2,000 MW of renewable energy projects for upcoming government and international bidding rounds. These future developments, spanning both wind and solar energy, are set to contribute significantly to Thailand’s renewable energy goals under the forthcoming Power Development Plan (PDP) 2024–2037.
More than 5,700 MW of wind energy capacity is currently open or expected to become available for bidding, including 400 MW under the existing PDP and 5,345 MW under the draft PDP, which is currently under public consultation.
Beyond its core energy business, WEH is actively investing in real estate, healthcare, and financial services through strategic stakes in publicly listed companies.
“As a holding company, we’re strategically positioning ourselves for long-term resilience across high-growth sectors,” said Mr Nuttpasint. “But renewable energy will always be our core.”
In 2024, WEH’s operations reduced carbon emissions by approximately 938,943 tonnes of CO₂ equivalent, comparable to the annual carbon absorption of 41 million mature trees.
Additionally, WEH sold 810,000 tCO₂e in carbon credits in 2024 and a cumulative 3.48 million tCO₂e between 2021 and 2024. The company adheres to leading global standards such as Gold Standard and VERRA and has sold credits to clients in the United States and Europe, particularly in the aviation and automotive sectors.
From 2019 to 2024, WEH also issued over 500,000 megawatt-hours (MWh) under the International Renewable Energy Certificate (IREC) framework, supporting global corporate goals for verified renewable energy usage.
source: https://www.bangkokpost.com/thailand/pr/3012951/wind-energy-holding-secures-four-new-projects
