Wind Energy Holding (WEH) announced that they have successfully closed financing for five of the company’s onshore wind farms which altogether have a total capacity of 450 MW. The wind farms will be located in north-east Thailand in the Nakhon Ratchasima and Chaiyaphum provinces.
Siam Commercial Bank (SCB) acted as the financial arranger in the transaction. Financial close for the five projects follows the commissioning of the company’s 60 MW Watabak project in December 2016, which was also financed by SCB.
The five projects will be worth a total amount of THB37 billion (US$1.13 billion). Once operational, by the first quarter of 2019, the five wind farms will add to WEH’s existing 270 MW of operating capacity.
Technology providers Vestas and General Electric (GE) will supply the necessary equipment for the development of both projects. Vestas, will supply 60 of their V136-3.0 MW units which will be the first of their kind in the Asia Pacific region. GE will supply 90 of their GE3.43-137 units with an innovative steel-concrete hybrid tower. GE Power will also construct six new substations as part of the grid infrastructure being built for the projects.
The projects have already started construction and are expected to achieve commercial operations by the first quarter of 2019. Upon completion, WEH will have developed and constructed 720 MW of onshore wind farm capacity in Thailand, making it the single largest wind power developer and operator in the country and Southeast Asia.
Global Infrastructure Partners (GIP), an independent global infrastructure investor, has announced that its fund, Global Infrastructure Partners III - in conjunction with the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, CIC Capital Corporation and a group of its other Limited Partner Co-Investors - has agreed to acquire 100 percent of the equity interests in the wind and solar renewable energy portfolio of Equis Funds Group for US$5.0 billion (including assumed liabilities of US$1.3billion).
Read moreThe Asian Development Bank has invested US$57.7 million in Thai power utility B Grimm Power Public Company to support the firm in investing and developing clean energy projects throughout Southeast Asia.
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