ADB Finances Two Solar Power Plants in Thailand
story highlights

ADB will provide technical assistance to oil companies to develop, implement and monitor their carbon neutral goals and provide training to other energy companies on zero-carbon emission strategies.

12 October 2010: The Asian Development Bank (ADB) is lending up to US$140 million to The Bangchak Petroleum Company Public Company Limited (BCP) to build two solar power plants, for a total of 38MW in central Thailand.

The plants will help the Thai Government achieve its target of getting 20.4% of its primary commercial energy – or 5,608 MW of installed power – from renewable sources by 2022. Currently, renewable sources, including biomass, solar, and hydropower, only contribute 1,754 MW of energy. BCP is a prominent integrated oil refining and marketing company in Thailand. Its largest shareholder is national oil company PTT PCL. BCP has kicked off a zero-carbon strategy under which it will neutralize its carbon footprint by developing large-scale solar power projects and reduce carbon emissions across its operation.

In addition to the loan, ADB is also providing US$400,000 in technical assistance to help BCP develop, implement, and monitor its carbon neutral goals and provide training to other energy companies in zero-carbon emission strategies. [ADB Press Release]

related posts