Thailand-based Energy Absolute Public Company Limited (Energy Absolute) has secured a green loan from the Asian Development Bank (ADB) to finance its renewable energy and electric vehicle charging network projects in Thailand. The $47.62 million green loan will be used to finance the ongoing the Nakornsawan Solar and Hanuman Wind power plants. In addition, the funds will also be used to deploy fast and standard chargers at across Thailand.

This green loan has been certified by the Climate Bond Initiative, which administers the international Climate Bond Standards and Certification Scheme. It is the first climate loan in Thailand to have received this certification. 

“We are positioned to grow our businesses in green energy and have been investing in modern technology-based industries that offer a total solution for promoting renewable power and electric mobility in Thailand and other countries,” said Amorn Sapthaweekul, Deputy CEO, Energy Absolute. “ADB’s continued support not only helps us financially but also highlights our trustworthiness and enhances our reputation.”

Energy Absolute was established in 2006 and is listed on the stock exchange of Thailand. It has six renewable power plants with a total capacity of 664 MW. In addition, it has biodiesel production units with a capacity of 800,000 liters daily. The company has also forayed into large-scale production of lithium-ion batteries and electric vehicle charging infrastructure.