November 29, 2017 / 3:59 AM / 9 months ago

Thailand's Wind Energy Holdings gets $1.14 billion financing

BANGKOK (Reuters) - Thailand’s Wind Energy Holdings Co Ltd said on Wednesday it received 37 billion baht ($1.14 billion) from Siam Commercial Bank to fund five onshore wind farms with a total capacity of 450 megawatts (MW).

Wind Energy Holdings, owned by KPN Group, said the projects would finish by the first quarter of 2019, adding to its current capacity of 270 MW.

“Together with our suppliers at Vestas and General Electric, we have been able to bring to the Southeast Asian market the latest low wind technology and achieve capacity factors that are normally reserved for higher wind sites in Europe,” Wind Energy Holdings Chief Executive Emma Collins said.

The company plans to expand into adjacent markets in the future, Nop Narongdej, chairman of the executive committee of Wind Energy, said in a statement.

Reporting by Chayut Setboonsarng; Editing by Amrutha Gayathri

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