Latest news with #WindEnergy
The Star
5 days ago
- Business
- The Star
Top Thai wind power firm to fund US$2bil spending by IPO
BANGKOK: Thailand's largest wind power producer plans to spend 65 billion baht (US$2 billion) to almost triple its generation capacity over the next 12 years, and will go public to fund the expansion. Wind Energy Holding Co. Ltd. is targeting 2,000 megawatts of domestic installed capacity by 2037, from the current 700 megawatts, Chief Executive Officer Nuttpasint Chet-Udomlap said in an interview in Bangkok. It's also exploring projects in the Philippines, he said. The closely held company will fund its growth with an initial public offering on the Thai exchange, although that's currently in limbo while it resolves a legal issue, according to Nuttpasint. Wind Energy Holding's net income and revenue both fell by more than a fifth in 2024. However, profit at the group level declined by just about 7% year-on-year with little change in sales, the company said in an emailed statement. The wind generator's expansion plan dovetails with the Thai government's goal of adding around 16,000 megawatts of renewable power capacity, including atomic energy, from 2026 to 2037. That would take clean power in Southeast Asia's No. 2 economy to more than a third of the total, up from 23% last year. "Our expertise and specialist in wind energy will boost our leverage in the coming bids for the new projects,' Nuttpasint said. Wind Energy has acquired land and secured vendors to prepare for the government's new auctions, he said. Nopporn Suppipat, who founded the company in 2006, won a ruling in the UK court in 2023 to recover more than $800 million over allegations he faced political pressure and was forced to sell his stock at a massive discount. Wind Energy has also had to go to a Thai court regarding its dividend payout in relation to those shares. The company will proceed with the IPO as soon as those disputes are settled, Nuttpasint said. He said he was closely following legal proceedings in Thailand, but had little knowledge about the progress of the court case in the UK. Outside of China, the wind industry has struggled in recent years due to rising costs for materials like steel and cement. Annual additions outside China fell to 36 gigawatts last year, the lowest since 2019. The sector may rebound in 2025, with ex-China installations expected to rise 44%, according to BloombergNEF. - Bloomberg
Business Times
6 days ago
- Business
- Business Times
Top Thai wind power firm to fund 65 billion baht of spending with IPO
[BANGKOK] Thailand's largest wind power producer plans to spend 65 billion baht (S$2.6 billion) to almost triple its generation capacity over the next 12 years, and will go public to fund the expansion. Wind Energy Holding is targeting 2,000 megawatts of domestic installed capacity by 2037, from the current 700 megawatts, chief executive officer Nuttpasint Chet-Udomlap said in an interview in Bangkok. It's also exploring projects in the Philippines, he said. The closely held company will fund its growth with an initial public offering (IPO) on the Thai exchange, although that's currently in limbo while it resolves a legal issue, according to Nuttpasint. Wind Energy's net income and revenue both fell by more than a fifth in 2024. The wind generator's expansion plan dovetails with the Thai government's goal of adding around 16,000 megawatts of renewable power capacity, including atomic energy, from 2026 to 2037. That would take clean power in South-east Asia's No 2 economy to more than a third of the total, up from 23 per cent last year. 'Our expertise and specialist in wind energy will boost our leverage in the coming bids for the new projects,' Nuttpasint said. Wind Energy has acquired land and secured vendors to prepare for the government's new auctions, he said. Nopporn Suppipat, who founded the company in 2006, won a ruling in the UK court in 2023 to recover more than US$800 million over allegations he faced political pressure and was forced to sell his stock at a massive discount. Wind Energy has also had to go to a Thai court regarding its dividend payout in relation to those shares. The company will proceed with the IPO as soon as those disputes are settled, Nuttpasint said. He said he was closely following legal proceedings in Thailand, but had little knowledge about the progress of the court case in the UK. Outside of China, the wind industry has struggled in recent years due to rising costs for materials such as steel and cement. Annual additions outside China fell to 36 gigawatts last year, the lowest since 2019. The sector may rebound in 2025, with ex-China installations expected to rise 44 per cent, according to BloombergNEF. BLOOMBERG
Yahoo
26-03-2025
- Business
- Yahoo
TSTC students rocking education with Metallica scholarship program
Mar. 25—SWEETWATER — Three Texas State Technical College Wind Energy Technology students appreciate the support they received from a Rock and Roll Hall of Fame band. "I love Metallica and all they have done," Logan Ham, of Sweetwater, said after learning he received a scholarship through the Metallica Scholars Initiative (MSI). Launched in 2019 by All Within My Hands, in partnership with the American Association of Community Colleges, MSI began its scholarship program with 10 colleges and primarily manufacturing programs. MSI offers diverse workforce opportunities for students interested in gaining the skills and training necessary to find meaningful and well-paying careers. Now in its sixth year, MSI has a presence in 60 colleges across all 50 states and in the territory of Guam. "I am really glad they set up this foundation to give people an opportunity to have their schooling funded," Ham said. Juan Lopez, of Colorado City, said he remembers listening to Metallica during high school football practice. "Their music was great," he said. "I am surprised the band wants to help students like me begin a career." "I am a big rock guy, so this is amazing," John Avery, of Barnhart, said. "The reason I applied is because I am a big fan of the band. I can now say that I am a Metallica Scholar." The three students are in their second semester of the Wind Energy Technology program. They enrolled because of the job potential in Texas. "The wind turbines have been popping up around my house, and I knew it was going to be a successful career choice," Avery said. According to the need for wind turbine service technicians in Texas was forecast to increase 102% from 2020 to 2030. The average annual salary for a technician in Texas is $59,290, according to the website. TSTC's Wind Energy Technology program offers an Associate of Applied Science degree and a certificate of completion at the Harlingen and Sweetwater campuses. To learn more about TSTC, visit
