ADB Loans $85m for 57MW of Solar Power in Thailand
The Asian Development Bank will provide USD 85 million in loans to Solarco to build three solar photovoltaic (PV) power plants in Thailand, which together will have a capacity of 57 MW. ADB will provide a USD 52 million loan in Thai baht to Solarco, as well as another USD 33 million loan through its Clean Technology Fund, which is part of the Climate Investment Fund implemented by multinational development banks. The PV plants will participate in Thailand’s Very Small Power Producer Program.
“ADB is contributing to build a critical mass of successful large scale solar power projects in Thailand, which will give confidence to more investors and banks that solar power is a proven technology and a sound investment,” said Daniel Wiedmer, senior investment specialist at ADB’s Private Sector Operations Department.