Thailand’s WHA Utilities And Power Targets Solar Energy Projects With Bond Sale

WHA Utilities and Energy (WHAUP), owned by tycoon Jareeporn Jarukornsakul, mentioned on Wednesday it had issued two tranches of bonds amounting to 2.8 billion baht ($81.5 million). The 2 tranches include a three-year inexperienced bond of 1.8 billion baht with a hard and fast coupon price of three.06% every year and a five-year plain vanilla bond of 1 billion baht with a hard and fast coupon price of three.71% every year. The bonds have been rated A- by native company TRIS Ranking.

WHAUP CEO Somkiat Masunthasuwun mentioned the bonds have been purchased by institutional and high-net-worth traders primarily based on their confidence within the firm’s enterprise fundamentals, monetary strengths and development potential.

“The corporate will proceed growing companies and keep targeted on sustainable development each in Thailand and internationally,” he mentioned in a press release from the corporate.

The bonds have been supplied on the finish of Might and organized by two joint managers, Kasikorn Financial institution and Siam Industrial Financial institution. The inexperienced bond can be used to fund WHAUP’s funding in photo voltaic energy-related initiatives, whereas the plain vanilla bond can be used to repay the corporate’s present debt.

In January, WHAUP had issued a one-year bond of 1 billion baht at 1.48%. WHAUP has been increasing its funding into photo voltaic energy-related initiatives because it noticed that the know-how can enhance effectivity and supply renewable power for purchasers.

Within the first quarter of 2022, WHAUP invested 30 million baht to put in a ground-mounted solar energy system for information heart agency Supernap (Thailand). The set up will assist scale back electrical energy prices and reduce carbon dioxide emissions by as much as 18,250 tonnes.

As of December 2021, WHAUP’s energy crops had a mixed capability of 607 megawatts, together with 55 MW of working solar energy crops and one other 35 MW of photo voltaic initiatives beneath building.