Asian Development Bank Funding Three Solar Projects

Posted by SI Staff on April 15, 2013 No Comments
Categories : New & Noteworthy

The Asian Development Bank (ADB) has agreed to provide $85 million for the construction of three solar power plants in central Thailand under a public-private partnership program.

Combined, the projects are expected to generate 57 MW in contracted capacity. They will be developed at three main sites in Thailand's Nakhonpathom and Suphanburi provinces and participate in Thailand's renewable energy program.

A 1.65 billion baht loan (equivalent to approximately $52 million) has been approved for Solarco, a special-purpose company owned by Yanhee EGCO Holding Co. Ltd., which, in turn, is exclusively managed by the publicly listed Electricity Generating Public Co. Ltd., the country's first independent power producer.

ADB will provide an additional $33 million loan to Solarco to be financed by the ADB Clean Technology Fund, which is part of the Climate Investment Fund implemented by multilateral development banks to support the rapid deployment of low-carbon technologies in the region.

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