Thai commercial solar gets a $50m uplift


Thai solar developer Constant Energy Group has secured what its CEO has described as “the largest green loan to the commercial and industrial solar sector to date in Thailand.”

Founder and chief executive Franck Constant made the remark to announce a THB1.5 billion ($50.2 million) loan from Bangkok-based TMB Bank to support its solar installations for commercial and industrial clients.

The financing deal, signed in mid December, followed a $15 million loan secured from the Global Climate Partnership Fund (GCPF) in February. The GCPF was set up by the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety and by German state development lender KfW in 2009.

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In a press release issued by the two parties to announce the loan arrangement, Constant added: “This financing paves the way for our accelerated growth and further demonstrates Constant Energy’s long-term commitment to, and confidence in, Thailand – through providing reliable, distributed renewable energy supply and working in partnership with our clients, by reducing their operating cost; with the communities, by supporting the local economy; providing employment opportunities; and protecting the environment.”

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