TMB Bank Public Company Limited is providing Thailand-based Constant Energy Group with a THB 1.5 billion (USD 50 million) green finance loan package. The funding will be deployed to expand Constant Energy’s solar energy projects for commercial and industrial (C&I) clients in Thailand. This transaction, the largest green loan to the C&I solar sector in Thailand to date, follows Constant Energy Group raising another USD 15 million via a long-term loan from Switzerland-based investment firm Global Climate Partnership Fund (GCPF) in February 2020.
Founded in 1995, Constant Energy Group is a renewable electricity generation and storage provider that invests in and manages high-quality power assets, mostly industrial rooftop-based solar PV power plants. Regionally headquartered in Bangkok, Constant Energy operates in Asia, focusing on South East Asia.
In other news, Hitachi Capital, Hitachi Asia, and Santec have entered an agreement to collaborate on solar power generation in Thailand, aiming to achieve 10 MW of power generation capacity by 2023. As a power producer, Hitachi Capital will enter into Power Purchase Agreement (PPA) with its customers and install solar self-consumption equipment, including panels on the roof of commercial offices or factories. With this collaboration, the three partners will encourage installing solar self-consumption equipment in Thailand from the end of March 2021, allowing customers to install renewable energy without initial investment and make payments later, according to the solar power generation amount.
There is a growing movement at the global level toward virtually zero greenhouse-gas emissions. In Thailand, the country’s power development plan aims at achieving a 33% renewables share in the total power generation capacity by 2037.
(Sources: Constant Energy, Hitachi, Eco-Business, Japan Today)