Thailand’s Wind Energy Holding (WEH) has confirmed its first international investment, acquiring a 50% share in CWP Renewables.
The deal will see WEH invest in CWP’s 800MW onshore wind development pipeline in Australia. Included in the pipeline is the 260MW Sapphire wind farm in New South Wales.
CWP is owned by Continental Wind Power and Wind Prospect.
WEH is a wholly-owned subsidiary of Thailand’s KPN Group. Its strategy is to become a leading global player in the renewables industry.
Chief executive Emma Collins said: “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.”
CWP chairman Mark Crandall added: “Since founding CWP 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.”
Image: Gamesa
