ADB extends USD 26m for 50-MW Thai solar park

Dec 13, 2012 - The Asian Development Bank (ADB) today said it had agreed to provide a THB 780 million (USD 25.5m/EUR 19.4m) loan to a unit of Thai state-run Bangchak Petroleum Public Co Ltd (BAK:BCP) to back a 50-MW solar project in Thailand.

The given capacity is in direct current (DC).

The facility, being built by Bangchak Solar Energy Co Ltd, will also receive cofinancing of up to USD 15 million from ADB-administered Clean Technology Fund (CTF), the lender said.

ADB said that the solar power facility would support Thailand’s goal to source from renewables 25% of its primary commercial energy needs by 2021. At present, natural gas, coal and lignite account for 85% of the country’s energy use. The output of the solar park will be sold to the Provincial Electricity Authority in the provinces of Chaiyaphum, northeastern Thailand, and Ayutthaya in the southern part of the country.

In September Bangchak Petroleum officially opened two solar parks with a combined capacity of 44.5 MW in Thailand, funded via a USD-134-million (EUR 102m) loan from ADB.

(THB 10 = USD 0.326/EUR 0.249)
(USD 1.0 = EUR 0.764)

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