ADB, Gulf Renewable Energy sign deal to scale up renewable energy in Thailand
Manila, Nov 29 The Asian Development Bank (ADB) said that it has signed an $820-million-loan with Gulf Renewable Energy Company Limited, a subsidiary of Gulf Energy Development Public Company Limited (Gulf), to fund the construction of renewable energy projects in Thailand.
Manila, Nov 29 The Asian Development Bank (ADB) said that it has signed an $820-million-loan with Gulf Renewable Energy Company Limited, a subsidiary of Gulf Energy Development Public Company Limited (Gulf), to fund the construction of renewable energy projects in Thailand.
The portfolio comprises eight ground-mounted solar photovoltaic (PV) plants with contracted capacity of 393 megawatts (MW) and four ground-mounted solar PV plants with battery energy storage with contracted capacity of 256 MW and 396 MW-hours of energy storage, Xinhua news agency reported.
"This portfolio of projects significantly enhances solar energy and solar energy with battery storage in Thailand, marking a major step forward in the country's goal of achieving carbon neutrality," said ADB Director General for Private Sector Operations Suzanne Gaboury. "It also offers a compelling model that can be replicated throughout the region."
Established in 2011, Gulf is a leading power generation company in Thailand. The company's core businesses are in the energy, infrastructure utilities and digital sectors.
Source: IANS