February 7 (Renewables Now) - Bangkok-based independent power producer (IPP) Constant Energy has obtained a USD-15-million (EUR 13.7m) long-term senior secured loan from the Global Climate Partnership Fund (GCPF).
The financing will support Constant Energy’s efforts to realise a pipeline of solar projects for commercial and industrial (C&I) customers in Thailand and Southeast Asia.
The IPP primarily serves the C&I segment using long-term power purchase agreements (PPAs) with tier-one corporate clients as the basis for project execution. The company then develops, builds and owns rooftop and ground-mounted solar projects at the clients’ manufacturing and industrial sites.
According to the GCPF, the market for distributed solar installations in the C&I sector is expected to grow over the coming year as it gets pushed by customers’ increasing power needs and solar’s potential to slash costs.
(USD 1.0 = EUR 0.912)