Thai bank to back 58 MW of Premier Solution solar paks in Japan - report

Thai renewables firm Premier Solution Co Ltd has secured an international bank guarantee from Kasikornbank PLC (BKK:KBANK) for a loan it will get from Tokyo Star Bank to fund 58 MW of solar projects in Japan.

The Thailand-based commercial bank will extend a guarantee to the developer, which will receive a JPY-1.5-billion (USD 12m/EUR 11m) credit facility from the Japanese financial institution, The Nation said Tuesday. Premier Solution will use the proceeds for 10 separate photovoltaic (PV) schemes it is working on in Japan.

The electricity generated by the solar farms will be sold to different Japanese utilities under 20-year power purchase agreements (PPA), according to the report. The names of the Japanese power firms and the exact locations of the plants remained unspecified.

The move marks Kasikornbank’s first guarantee on international credit. Looking forward, it expects to receive more and more requests for its financial facilities from Thai companies planning overseas investments, executive vice president, Pipit Aneaknithi, was quoted as saying.

(JPY 100 = USD 0.833/EUR 0.736)

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