Wind Energy Holding To Acquire CWP Renewables

15/03/2016

Wind Energy Holding Co., Ltd., (‘WEH’ or ‘the Company’), majority owned by the KPN Group and one of Thailand’s and Southeast Asia’s leading renewable energy companies, had announced that it has agreed to invest into CWP Renewables Pty., Ltd. (‘CWP’), a leading renewable energy developer and asset manager in Australia, from Continental Wind Partners and Wind Prospect. WEH will also purchase 50% of CWP’s Australian business, including its 800MW development pipeline, on which construction will start this year. The pipeline will continue to be developed by CWP Renewables which will be integrated with the WEH team to deliver and manage further projects across Asia.

The acquisition marks WEH’s first international investment as it strives to become one of the world’s leading renewable energy companies over the next decade. Combining WEH’s existing capabilities with CWP’s expertise and talent will further strengthen the Company, enabling it to accelerate its global growth, as well as the development of its pipeline in Thailand and Australia.

CWP has an outstanding global track record of renewable energy development, with more than two decades of experience in developing and managing 4,200 MW of installed capacity across 20 countries. Since entering the Australian market in 2007, it has successfully developed the 113 MW Boco Rock Wind Farm in 2014 and has established a highly attractive development pipeline of more than 800 MW.

Amongst its development pipeline is the 260 MW Sapphire Wind Farm which achieved State planning approval in 2013, Commonwealth planning approval in 2014, and was recently announced as the fifth and final winner of the ACT government’s large-scale wind reverse auction. In addition to its development activities, CWP is also a leading asset manager, currently managing over 220 MW of wind power assets across two windfarms in Australia.

Mark Crandall, Chairman of the Executive Board at Continental Wind Partners LLC said: “Since founding Continental Wind Partners in 2007, we have successfully developed and operated a number of wind farms across Eastern Europe and Australia. Given WEH’s strong track record and capabilities, it is an ideal partner to develop what is an exceptionally attractive and exciting Australian pipeline.”

Emma Collins, Chief Executive Officer of Wind Energy Holding Co., Ltd. stated: “We are very excited with the investment in CWP – it is extremely complementary to our business and will significantly strengthen our development and asset management capabilities.

"The Australian market offers tremendous potential over the long-term and this is the opportune time to invest in the country, with increasing government support and positive moves around certificate pricing promoting the growth of the renewable industry. I look forward to working closely with CWP’s management team as we seek to achieve our global aspirations.”

Nop Narongdej, Chairman of the Board of Wind Energy Holding Co., Ltd. commented: “Following KPN Group’s purchase of a majority shareholding in WEH, one of our core goals was to leverage and expand from our base in Thailand into attractive renewables markets, both in the region and globally. The investment into CWP and its development pipeline is the first of what we expect will be a number of global initiatives for the company, as we move into the next phase of our international growth plans.”

Editors Notes

About Wind Energy Holding Co., Ltd.

Wind Energy Holding Co., Ltd. (‘WEH’) is one of the fastest growing renewables company in Thailand focused on wind power and is the only company to have built a commercial scale wind farm in the country, having built two farms with a total capacity of 207 MW in the Nakhon Rachasima Province.

The Company also has the largest domestic wind power pipeline and is currently developing seven projects spanning some of the most attractive wind producing areas in Thailand. WEH currently has a pipeline of over 500 MW in Thailand. WEH accounts for over 93% of existing wind contracted capacity in Thailand and over 40% of the total present quota in the country.

WEH is majority owned by the KPN Group, which purchased a majority stake in WEH in September 2015.

About the KPN Group

Originally a part of the Siam Motor Group, KPN was founded in 1979 by Khunying Phornthip Narongdej and Dr. Kasem Narongdej. Led by the third generation of the Narongdej family, the KPN Group is one of Thailand’s leading conglomerates, operating a diversified portfolio of domestic and international businesses. The group focuses on a core set of industries including renewable energy, education, healthcare, real estate, entertainment, and other early stage investment opportunities.

About CWP Renewables Pty., Ltd.

CWP Renewables was a joint-venture between two leading renewable energy developers Continental Wind Partners and Wind Prospect Group. CWP brings over two decades of renewable energy development experience and 4,200 MW of installed capacity across 20 countries and is a leading wind power developer in Australia having developed and built the 113 MW Boco Rock Wind Farm in New South Wales, Australia.

About Continental Wind Partners

Continental Wind Partners was founded in 2006 when it began developing projects in Central & Eastern Europe. In 2008 Continental Wind Partners developed and project managed the construction of Europe’s largest onshore wind farm, the 600 MW Fantanele Wind Farm in Romania, on behalf of Czech utility CEZ. Continental Wind Partners continues to develop wind projects across Central and Eastern Europe.

Contact

Contact: Siobhan Isherwood

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