Private sector loan for renewable energy and electric vehicle charging system signed between ADB and Energy Absolute
On 11 February, ADB and the Energy Absolute Public Company Limited signed a $47.62 million green loan that will finance the Nakornsawan Solar and Hanuman Wind power plants and deploy fast and standard chargers at charging stations across Thailand.
The country intends to be the regional forerunner 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. Green loans are used to fund projects that benefit the environment, while climate loans focus on climate change benefits.