ADB invests $98.7m in 260MW Thai wind farm

The bank will inject the funds through a green-bond issuance.

The Asian Development Bank (ADB) will invest $98.7m (THB3b) in Energy Absolute’s maiden green bond issuance that will largely support its 260MW Hanuman wind farm in Thailand, an announcement revealed.

The bond will have a total issuance of $330.32m (THB10b) and will only be the second Climate Bonds Standard-certified bond issued by a Thai energy company and the first green bond for a wind power project in Thailand.

Amorn Sapthaweekul, deputy CEO at Energy Absolute, said, “After the success of the 260MW Hanuman Wind Project, we took another significant step to become a more value-added business by focusing more on patent development and innovation in clean energy and related industries including energy storage systems, electric vehicles (EV) and EV charging stations, and electric ferries. We are also preparing to launch an energy trading platform, which we have studied and developed through our own technology and innovation. This platform will play a major role in demand-side management for energy efficiency.”

Renewable energy sources are expected to contribute 15% to 20% of Thailand’s total energy production by 2036, up from the current 10%. The Hanuman wind farm in northeastern Chaiyaphum Province is the largest wind farm in Thailand and is expected to reduce the country’s annual carbon emissions by 200,000 tons by 2020.

Energy Absolute has installed capacity of 664 MW at four solar and two wind power plants.