IWIND welcomes China partner
BEIJING-BASED Goldwind International Holding, a global leader in manufacturing wind turbine generators and providing comprehensive wind power solutions, is taking a 10-per-cent stake in a Thai renewable energy company.
Sumet Sutthapaki, executive chairman of Inter Far East Wind International, or IWIND, said yesterday that the initial agreement signed with the Chinese company would result in mutual benefits.
Goldwind seeks to grow demand for wind turbines in Asia, while the Thai company would see smooth capacity expansion across Asia. IWIND’s benefits include a chance to co-invest in the Chinese company’s projects, which target combined installation of 8 gigawatts.
IWIND has already bought wind turbines with a capacity of 8.96 megawatts from Goldwind for its project in Nakhon Si Thammarat, which is expected to commence commercial operations next quarter.
Sumet also unveiled the plan to take over HBRE, a wind power company based in Daklak in central Vietnam.
HBRE has secured a power purchase agreement for 22MW and expects a further agreement for 62MW. The commercial operations of the project are slated for the fourth quarter.
“This is part of a 210MW project,” he said. “Wind power offers a great opportunity in Vietnam due to domestic demand and demand from neighbouring countries,” he said.
Late last year, IWIND acquired 30 per cent of a 30MW wind power project on Jeju Island in South Korea, which is being developed by Hanshin Energy.
To cope with greater demand for clean energy on the island, the company plans to raise its interest to 50 per cent.
Mergers and acquisitions of projects overseas would be quickened to raise the company’s capacity to 1GW in 2019, he added.
