Wind Energy Holding Secures Four New Projects, Revenue Hits THB 11.3 Billion

 

Wind Energy Holding Secures Four New Projects, Revenue Hits THB 11.3 Billion

Licensed Capacity Surges 42% as Company Prepares for Next Phase of Growth

 

Bangkok, Thailand – Wind Energy Holding Co., Ltd. (WEH), Thailand’s leading wind energy producer, has secured four new renewable power projects totalling 299.1 megawatts (MW), marking a major milestone in its expansion strategy. With this addition, WEH’s licensed electricity generation capacity has risen by 42%, reaching 1,016 MW—surpassing its longstanding goal of 1,000 MW.

 

The new projects, awarded under Thailand’s Feed-in Tariff (FiT) scheme Phases 1 and 2, include one 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 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.”

 

For the fifth consecutive year, WEH reported revenue exceeding THB 10 billion, reaching THB 11.313 billion in 2024. Net profit totalled THB 5.388 billion—the fourth straight year above the THB 5 billion mark.

Operational highlights included:

• Debt-to-equity ratio improvement: 0.74 (down from 1.01)
• High operating cash flow: THB 9.57 billion
• Dividend and returns continuity to shareholders and bondholders: Enabled by consistent high performance and operating cash flow
  
  

“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.”

 

WEH is preparing more than 2,000 MW of renewable energy projects for future government and international bidding rounds. These projects span both wind and solar, and will contribute to Thailand’s renewable energy targets under its upcoming Power Development Plan (PDP) 2024–2037.

 

Over 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 currently in public consultation. In addition to its energy business, WEH is actively investing in real estate, healthcare, and financial services through 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 tons of CO₂ equivalent, comparable to the annual absorption of 41 million mature trees.

 

WEH sold 810,000 tCO₂e in carbon credits in 2024 alone and a cumulative 3.48 million tCO₂e between 2021 and 2024. The company adheres to leading standards such as Gold Standard and VERRA and has sold credits to clients in the U.S. and EU, particularly in the aviation and automotive sectors.

 

Additionally, it issued over 500,000 MWh under the International Renewable Energy Certificate (IREC) framework from 2019 to 2024, supporting global corporate goals for verified renewable energy usage.