BANGKOK, Oct 17 (TNA) – The Asian Development Bank (ADB) will invest 3 billion baht in Energy Absolute’s maiden green bond issuance, proceeds from which will help support the long-term financing of the company’s 260-megawatt (MW) Hanuman wind farm in Thailand.
The investment will contribute to Thailand’s renewable energy objectives and its ongoing efforts to reduce carbon emissions.
The bond will have a total issuance of 10 billion Thai Baht. It 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. Proceeds from green bonds are used to fund, in part or in full, new or existing projects that deliver environmental or climate-related benefits.
The agreement was signed in Bangkok today by Deputy Director General of ADB’s Private Sector Operations Department Mr. Christopher Thieme and Energy Absolute’s Deputy Chief Executive Officer Mr. Amorn Sapthaweekul on the sidelines of a knowledge-sharing event—the Capital Market Research Forum: Development of Green Bonds in Thailand. The event was hosted by ADB and the Stock Exchange of Thailand’s Capital Market Research Institute.
“Thailand has ample renewable energy resources and its green and climate bond market has tremendous potential,” said Mr. Thieme. “This maiden green bond issuance by Energy Absolute will contribute to the evolution of that market, while supporting the clean energy ambitions of Thailand’s Power Development Plan by underpinning the growth of wind power generation.” (TNA)
