WEH has followed the typical Thai drama show story line for the past 12 months with the major shareholder, Nopporn Suppipat, having an arrest warrant issued for him and the SEC blocking their supposed IPO and hurting DEMCO’s short term share performance (hence the only reason for posting this). Now there is a new shareholder in the form of KPN Group it looks like there is light at the end of the tunnel.

Here are the facts:

• KPN Group Corporation, a holding company under the Narongdej family, has made its first foray into renewable energy.
• The company acquired the entire stake of Renewable Energy Corporation (REC), a majority shareholder of Wind Energy Holding Co (WEH), for an undisclosed amount.
  Nop Narongdej, KPN’s president, said the acquisition marks an exciting milestone for KPN as WEH is one of the fastest growing renewables companies in Thailand. It is also the only one to have successfully built and operated two commercial-scale wind farms in the country, making it an attractive choice for investment.
• WEH also has the largest domestic wind power pipeline, which presents KPN with a rare opportunity to shape the future of the renewable energy industry and positively contribute to Thailand’s economic development, he said.
• Established as a holding company for WEH, REC currently holds a 59.5% stake in WEH. The company was originally owned by Nopporn Suppipat, who was issued with an arrest warrant by the Thai government on lese majeste charges late last year.
• WEH was started in 2009 and is Thailand’s largest wind energy company. Its two operating wind farms in Nakhon Ratchasima province have a total capacity of 207 MW. The company is developing six projects that are expected to span some of the most attractive wind-producing areas in Thailand.

Source: Bangkok Post