The Asian Development Bank (ADB) has announced that it will invest THB 3 billion (USD 99 million) in a THB 10 billion (USD 330 million) green bond issuance from Thai Energy company, Energy Absolute. The proceeds will then support the long-term financing of the company’s 260 MW Hanuman windfarm in the in the northeastern province of Chaiyaphum in Thailand, which achieved commercial operations in the spring of 2019, and is currently the largest wind farm in the country.
This will be the second Climate Bonds Standard-certified bond issued by a Thai Energy company and the first green bond for a wind power project in Thailand.
Energy Absolute was established in 2006 and is one of the largest renewable Energy companies in Thailand with an installed capacity of 664 MW at 4 solar and 2 wind power plants. Energy Absolute’s deputy chief executive recently revealed that the company is focusing more on patent development and innovation in clean Energy and related industries including Energy storage systems, electric vehicles (EV) and EV charging stations. Moreover, the company is also preparing to launch an Energy trading platform.
(Sources: Renewables Now; Asian Development Bank; Engineering International)