The Danish company Intertec Wind A/S is in cooperation with Danish DC Enterprice ApS going to build three windmill parks in Thailand for an estimated sum of 14,6 billion thai baht.
The two Danish companies together hold 50 percent of the 14, 6 billion Thai baht investment. This corresponds into roughly 1,2 billion Danish kroner. The three projects were approved by the Thai Board of Investment (BOI) back in December. An approval which means that the projects have secured a number of economic advantages such as tax relief for the first eight years of operation, relief of import taxes on material which can not be purchased in Thailand and also dispensation for the normal requirement of Thai shareholding majority in the projects.
Intertec Wind A/S holds 40 percent of the shares, while DC Enterprice ApS holds 10 percent. De remaining 50 percent represents the Thai support to the projects, mainly in the form of the tax relief’s mentioned previously in the article. As of right now, the windmill parks are approved to be placed in the northern provinces of Thailand, but the final placement has not yet been decided
Claus Poulsen, who is the director of Intertec Wind A/S, visited Bangkok during March, to take a look at the projects. He says:
”We have been studying the wind conditions in Thailand for the past four to five years. The wind conditions in Thailand are generally not adequate to secure profitable investments in windmill projects, but through our studies in Thailand, we have identified a few areas with the right wind conditions, and that has given us an idea as to where to set up the windmills.”
More investors are a possibility
Intertec Wind A/S has for some years been working with windmill projects all over the world, but never in Denmark.
As for the specific projects in Thailand, Intertec has entered into a co-operation with DC Enterprice and also a Thai partner. The companies then have established three project companies in line with Thai regulations. This means that each of the three project companies have seven shareholders. Though three of the shareholders only holds one share each.
”The partners in the project companies hope to expand the circle of owners, when the projects start up construction,” Claus Poulsen says and continues:
“Since our projects became public knowledge in Thailand, we have had several inquiries from potential investors who have shown a great interest in participating in our projects.”
Supplier of windmills still unknown
Because the windmills which are to be used in the three projects have to correspond with the specific conditions of the locations in which they are to be built, it has not yet been decided who is going to deliver the many windmills for the projects. This means that it can easily be a Danish windmill constructor, such as Vestas, who is going to get the profitable order. But this is one of the things the boards on the three projects are going to decide, and none of the projects have come this far in the process yet.
Claus Poulsen estimates that the first of the three projects will begin delivering energy in about two years. The three windmill parks will be able to reach an energy efficiency level of approximately 220 MW (Mega Watt, red.). Energy which is to be sold in Thailand exclusively.
For some years Intertec Wind A/S has been developing similar windmill projects in Italy amongst others. And here more of the windmill parks are already producing energy.