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WEH CEO Nopporn Suppipat Announces 500M Baht Debenture Offering Approved by SEC

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The Securities and Exchange Commission (SEC) has given the green light to Wind Energy Holding Company Limited (WEH) to offer 2-year debentures that will mature in 2026. These debentures come with an annual interest rate of 6.75%, and the total offering is capped at 500 million baht. The subscription period is slated for July 11-12 and 15, exclusively for institutional investors and high net worth individuals. The funds raised will be channeled towards expanding the business and developing new projects both in Thailand and internationally.

Mr. Nopporn Suppipat, the Chief Executive Officer of WEH, Thailand’s leading wind power producer, announced that the SEC had approved the draft registration statement for the company’s debut debt offering on July 10, 2024. This offering, known as Wind Energy Holding Company Limited’s debentures No. 1/2024, features a fixed 2-year maturity with an annual interest rate of 6.75%. Investors will receive interest payments every three months over the term of the debenture. The subscription window is specific to July 11-12 and 15, with issuance slated for July 16, 2024.

“WEH has demonstrated exceptional performance from all 8 of our power plants, which boast a total installed capacity of 717 megawatts. This has generated revenue exceeding 10 billion baht annually and a net profit of over 5 billion baht per year for three straight years from 2021 to 2023. For 2024, we anticipate recognizing over 10 billion baht in revenue,” stated Mr. Nopporn. He further added, “Six of our wind power plants continue to benefit from an Adder of 3.5 baht per kilowatt-hour until 2027-2029, which covers the term of these debentures. Our revenue is stable and less susceptible to economic fluctuations, thanks to our long-term Power Purchase Agreements (PPAs) with the Electricity Generating Authority of Thailand (EGAT). Plus, we have never defaulted on any debt payments.”

WEH has ambitious plans to elevate its total production capacity to 1,500 megawatts within five years, up from its current 717 megawatts. This would potentially boost annual revenue to 15,000 million baht from over 10,000 million baht annually. Two ongoing projects, which integrate wind and solar power, collectively offer a capacity of approximately 120 megawatts and are gearing up to sign PPAs with EGAT. Moreover, two additional projects have passed the qualification reviews by the Energy Regulatory Commission (ERC). Beyond that, WEH is actively developing over 10 renewable energy projects, both in Thailand and abroad, ready to engage whenever new rounds of power purchase are announced by the government.

Diving into the specifics of this debenture issue, these are named, unsubordinated, unsecured debentures with a representative for the debenture holders. The total offering value is capped at 400 million baht, with an allotment for additional reserved debentures amounting to no more than 100 million baht, bringing the overall cap to 500 million baht. The primary aim of issuing these debentures is to fund business expansion, invest in new high-potential projects, and provide working capital.

Interested investors can get in touch with any of the 8 designated debenture underwriters, including Beyond Securities Public Company Limited, DAOL Securities (Thailand) Public Company Limited, Globlex Securities Company Limited, Maybank Securities (Thailand) Public Company Limited, Phillip Securities (Thailand) Public Company Limited, Pi Securities Public Company Limited, Trinity Securities Company Limited, and UOB Kay Hian Securities (Thailand) Public Company Limited. Bangkok Bank Public Company Limited will act as the debenture registrar, while DAOL Securities (Thailand) Public Company Limited will serve as the representative for debenture holders.


  1. Sarah K July 11, 2024

    This is great news! Renewable energy is the future.

    • EngineerJoe July 11, 2024

      True, but a 6.75% interest rate seems pretty high for debentures. Anyone else concerned?

      • GreenThumb99 July 11, 2024

        High risk, high reward. More renewables mean a healthier planet.

        • Sarah K July 11, 2024

          Exactly! Plus, WEH has a solid track record. I’m optimistic.

  2. EconExpert123 July 11, 2024

    I’m skeptical. The renewables sector is incredibly volatile. Can WEH really guarantee these returns?

    • Lana W July 11, 2024

      They have stable Power Purchase Agreements with EGAT. That should mitigate some risks, right?

      • EconExpert123 July 11, 2024

        PPAs help, but they aren’t foolproof. Economic shifts can still impact profitability.

      • InvestGuy July 11, 2024

        Exactly. Long-term agreements are good, but they can be renegotiated or defaulted on.

    • Sarah K July 11, 2024

      What’s life without some risk? If they succeed, it’s a win for everyone.

  3. Zach July 11, 2024

    Why are these debentures only for the rich? Regular people should have the opportunity to invest too.

    • Maggie34 July 11, 2024

      Totally agree. It feels like another way to keep the gap between the rich and poor wide.

      • FinGuru July 11, 2024

        It’s about minimizing risk. Institutional investors are considered more capable of handling these types of investments.

      • Zach July 11, 2024

        But isn’t that just another form of gatekeeping?

    • RichBoi77 July 11, 2024

      Everyone has their lane in investing. Know yours.

  4. Cassandra L. July 11, 2024

    WEH’s move seems strategic, but the timing feels weird. With climate change escalating, shouldn’t they expedite their projects?

    • EcoWarrior July 11, 2024

      Yeah! The speed at which they’re expanding doesn’t match the urgency of the situation.

      • Cassandra L. July 11, 2024

        Exactly! We need faster action, not slow-paced corporate timelines.

      • InvestorTom July 11, 2024

        Business expansions require careful planning. Rushing could lead to failures.

  5. Nicole July 11, 2024

    6.75% interest over 2 years sounds like they are expecting some big returns. Or maybe they are covering big risks?

    • RiskyBiz July 11, 2024

      That interest rate definitely compensates for some underlying risks. The market is unpredictable.

  6. DebateMaster45 July 11, 2024

    This sounds like a gamble. Renewable energy is still too new to trust with substantial investments.

    • SunnyD July 11, 2024

      Renewables are the only sustainable future. Better get on board now or get left behind.

      • DebateMaster45 July 11, 2024

        I get that, but we need to balance enthusiasm with caution.

      • SolarFan32 July 11, 2024

        Caution is good, but overcaution can stunt progress.

  7. Chris T July 11, 2024

    WEH’s track record is impressive, but what about emerging competitors? Can they maintain dominance?

    • MarketWatcher July 11, 2024

      Competition is healthy. It drives better innovations and lower prices.

    • Chris T July 11, 2024

      True, but too much competition can dilute market shares and profits.

  8. Larry D July 11, 2024

    Can someone explain what ‘debentures’ are? I’m confused.

  9. Emily R July 11, 2024

    Sure, Larry. Debentures are like loans you give to a company. You get interest and your money back after a fixed period.

  10. AlexP July 11, 2024

    Why is everyone so focused on renewable energy investments? Aren’t there other sectors yielding better returns?

    • GreenInvestor July 11, 2024

      Renewables are not just about returns. They’re about sustainability and long-term benefits.

      • AlexP July 11, 2024

        I get that, but I need to think about my portfolio’s immediate gains too.

  11. EF282 July 11, 2024

    Seems like good news for Thailand’s renewable sector, but how does this affect the average citizen?

  12. Karen M July 11, 2024

    As long as the projects translate to cleaner air and more jobs, I’m all for it.

  13. ScienceGeek July 11, 2024

    These debentures and PPAs are a lifeline for boosting renewables in a developing region. High interest rates aside, it’s a step in the right direction.

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