ADB Finances Thai Solar Power Plants

The Asian Development Bank will be invest up to USD140.3 million for the construction of solar power plants in Thailand. Photo by: Jimmy Joe / CC BY Jimmy JoeCC BY

The Asian Development Bank is investing up to 4.2 billion Thai baht (USD140.3 million) in the construction of two solar power plants in Ayutthaya in central Thailand.

The loan will be provided to the Bangchak Petroleum Company Public Ltd. It will be used to build 8-megawatt and 30 MW solar power plants that are expected to help the Thai government meet its target of acquiring up to 20.4 percent of its primary commercial energy from renewable sources by 2022.

The projects are aligned with ADB’s Asia Solar Energy Initiative, which aims to finance projects that will help Asian countries maximize their potential to generate and use solar power.

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  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.