Thailand's Energy Absolute inks USD 50m green loan with ADB
The Hanuman wind farm in Thailand. Photo courtesy of Energy Absolute.
The Asian Development Bank (ADB) has agreed to provide THB 1.5 billion (USD 50m/EUR 41m) in funding for solar, wind and electric vehicle (EV) projects to Thailand's Energy Absolute (BKK:EA), it was announced on Thursday.
The renewable energy company will use the funds to finance the 123-MW Nakornsawan solar farm, which was commissioned in 2013, and the 260-MW Hanuman wind farm, commissioned in 2019, and roll out fast and standard EV charges at stations across Thailand.
The green loan is certified by the Climate Bond Initiative, being the first climate loan in the Asian country with this certificate, said ADB.
Energy Absolute operates solar and wind farms with a total capacity of 664 MW in Thailand, and is a producer of biodiesel.