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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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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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