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Thailand: Green Loan for Renewable Energy and Electric Vehicle Charging Network

Nonsovereign (Private) Project | 54268-001 Status: Approved

The project entails a corporate loan with a 3-year tenor to support the ongoing renewable energy and sustainable transport activities of Energy Absolute Public Company Limited (Energy Absolute). The loan will be used to finance two of Energy Absolute's operating solar and wind projects in Thailand (the Nakornsawan Solar Power Project and the Hanuman Wind Power Project), as well as Energy Absolute's ongoing investment in a comprehensive electric vehicle charging network (EVCN) in Thailand. The loan is expected to be the first green loan in Thailand certified by the Climate Bonds Initiative and only the second in Asia. The assistance of the Asian Development Bank (ADB) will support Thailand's renewable energy sector, increase awareness about green loans, and support the transition from a conventional automotive industry to an electric vehicle industry in Thailand by establishing a comprehensive EVCN across Thailand's major cities.

Project Details

Project Officer
Hong, Won Myong Request for information
Country
  • Thailand
Sector
  • Energy
 
Project Name Green Loan for Renewable Energy and Electric Vehicle Charging Network
Project Number 54268-001
Borrower/Company Energy Absolute Public Company Limited
Country Thailand
Location Nation-wide
Type or Modality of Assistance
Debt Security Ordinary capital resources THB 1,500.00 million Approved
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Private sector development
Sector / Subsector

Energy / Renewable energy generation - solar - Renewable energy generation - wind

Transport / Road transport (non-urban)

Gender Equity and Mainstreaming Some gender elements
Responsible ADB Department
Responsible ADB Division
Responsible ADB Officer Hong, Won Myong
Project Sponsor(s)
Description The project entails a corporate loan with a 3-year tenor to support the ongoing renewable energy and sustainable transport activities of Energy Absolute Public Company Limited (Energy Absolute). The loan will be used to finance two of Energy Absolute's operating solar and wind projects in Thailand (the Nakornsawan Solar Power Project and the Hanuman Wind Power Project), as well as Energy Absolute's ongoing investment in a comprehensive electric vehicle charging network (EVCN) in Thailand. The loan is expected to be the first green loan in Thailand certified by the Climate Bonds Initiative and only the second in Asia. The assistance of the Asian Development Bank (ADB) will support Thailand's renewable energy sector, increase awareness about green loans, and support the transition from a conventional automotive industry to an electric vehicle industry in Thailand by establishing a comprehensive EVCN across Thailand's major cities. ADB's assistance will also support a leading clean energy and sustainable transport company in Thailand at a time when capital markets are still adjusting to the ongoing disruptions caused by the coronavirus disease (COVID-19) pandemic.
Objectives and Scope
Linkage to Country/Regional Strategy
Safeguard Categories
Environment B
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance -
Credit Committee Meeting 13 Jul 2020
Approval 26 Aug 2020
Last PDS Update 28 Aug 2020

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