Few Investors Interested in Thailand's Wind Power Sector

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Researched by Industrial Info Resources East Asia (Kofu-shi, Japan)--Until now, wind power development in Thailand has been fairly exclusive. Before this year, essentially all of the country's wind power projects have been headed by Wind Energy Holdings (Bangkok). Other domestic companies have taken notice and have begun investing, though development remains slow like that of other renewable energy forms, such as solar power. As of now, renewable energy makes up approximately 5% of Thailand's power capacity development, according to Industrial Info.

A source at Wind Energy recently explained that the company began development of three separate windfarms under three separate subsidiary companies. Those windfarms are Khao Kor, Huay Bong 1 and Huay Bong 2. Wind Energy recently sold shares in the Khao Kor project, designed for 60 megawatts (MW), to Ratchaburi Electricity Generating Holding PLC (Bangkok). This sale made Ratchaburi the majority shareholder and granted it ownership of Khao Kor, though Wind Energy remains the minority shareholder.

Huay Bong 1 and Huay Bong 2 remain in full control of Wind Energy, which signed a power purchase agreement with Electricity Generating Authority of Thailand (EGAT) (Bangkok) this year. Under the agreement, EGAT agreed to purchase only a total of 90 MW from each windfarm when completed, though both will have capacities of more than 103 MW each. All three projects will use Siemens AG (NYSE:SI) (Munich) wind turbines and share Demco Public Company Limited (Bangkok) for engineering services.

GE (NYSE:GE) (Schenectady, New York) is becoming involved in Thailand's wind development as well with German company Pro Ventum International Gmh (Forchheim, Germany). This project is currently under construction in Chaiyaphum province and is due for completion late next year.

Thailand's wind power sector has had little luck with development. The government has focused mostly on the development of solar power and few foreign investors, save Pro Ventum International, have shown interest in the sector.

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