Constant Energy secures loan to deploy C&I solar pipeline in Asia

Solar park in Thailand. Featured Image: topten22photo/Shutterstock.com

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)

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