ADB and Energy Absolute sign $47m green loan
The Asian Development Bank and Energy Absolute Public Company Limited have signed a THB1.5 billion ($47.62 million) green loan to finance ongoing renewable energy projects and a countrywide electric vehicle charging network in Thailand.
The loan will finance the Nakornsawan Solar and Hanuman Wind power plants, and deploy fast and standard chargers at charging stations across Thailand. Thailand aims to be a regional leader in electric vehicles to reduce greenhouse gas emissions from conventional transportation, which currently accounts for around 26% of the country’s total annual emissions.
This green loan is the first climate loan in Thailand to be certified by the Climate Bond Initiative, which administers the international Climate Bond Standards and Certification Scheme.
