The three wind farm projects, worth 13 billion baht, have a combined capacity of 276 megawatts. WEH invested in Huay Bong 2 and 3 through its wholly owned subsidiary Aeolus Co, which controls 60% in the two projects.
Ratchaburi Electricity Generating Holding Plc and Chubu Electric Power Co hold a 20% stake each in the two wind power projects.
Construction of Huay Bong 2 and 3 already started this year and the two farms are scheduled to start operations in February and October next year, respectively. The company is looking for strategic partners for Watabak, which it expects to develop next year.
Mr Noppon said that the remaining four licences will be developed from 2014 to 2016, with a total capacity at 340 MW. They comprise Korat 2/1, 2/2, 2/3 and North Krissana with total investment of 26 billion baht.
"We plan to list on the Stock Exchange of Thailand in 2014 in order to raise capital for project expansion in the future," said Mr Noppon.
The company set a long-term investment plan for wind farms to have a capacity of 2,000 MW by 2020, with half of the total coming from Thailand capitalising on the government’s commitment to support renewable energy development.
He said another 500 MW would come from Southeast Asia and India, which are committed to renewable energy. The remaining 500 MW will come from South America and the US.
"We started a survey on the power markets in Vietnam and the Philippines because they have strong wind," said Mr Noppon.
He expects the Energy Ministry will issue more licences for wind turbine farms after the government endorsed a revised 20-year renewable energy plan that aims to raise its share to 25% of Thailand’s consumption by 2021, up from a previous target of 20%.
Chief executive Frank Hojerslev said WEH also plans to set aside funding for local community welfare development and agriculture.
"I think those projects will require more than 10,000 jobs from pre- to post-construction and if the project becomes a tourism hotspot, that will create more jobs," said Mr Hojerslev.