Thailand energy company secures ADB aid for renewables and EV projects

Published onFebruary 25, 2021

The Asian Development Bank (ADB) has issued funding to be used to increase renewable energy and EV charging infrastructure in Thailand. A $47.62 million green loan issued to the largest renewable energy company on the Stock Exchange of Thailand, Energy Absolute Public Company Limited, will be used to finance ongoing renewable energy projects and a countrywide EV (electric vehicle) charging network. Energy Absolute Public Company Limited will use the loan to finance the Nakornsawan Solar and Hanuman Wind power plants and deploy fast and standard chargers at charging stations. Thailand has set a plan to accelerate the adoption of EVs and the installation of EV charging infrastructure to reduce greenhouse gas emissions from conventional transportation, which currently accounts for around 26% of the country’s total annual emissions.