Thai Power Firm Secures US$28.1-million Loan for Solar Power Project in Cambodia

• 11 November 2021
• Local News
• 1937 Views

B.Grimm Power Plc, Thailand’s leading industrial power producer, has secured US$28.1 million in a syndicated loan from three top Thai banks to finance its solar energy project in Cambodia.

The loan has a 15-year maturity date and was signed on 28 October by Kasikornbank (KBank), Export-Import Bank of Thailand (Exim Thailand) and Bangkok Bank to Ray Power Supply Co, a wholly owned subsidiary of B.Grimm Solar Power 1 Co, the Bangkok Post reported on 6 November.

Ray Power Supply is currently operating a 39mW solar power plant in Banteay Meanchey province. Construction on the plant is complete and began generating power last December to the grid under a purchase agreement with EDC.

The firm did not specify how the fund will be used in the project, but the objective of the fund is to promote investment for sustainability and support customers’ transition to a net-zero emissions economy.

Currently, B.Grimm has a total of 50 power plants in commercial operation. The company aims to ramp up its total installed capacity from 3,058mW at the end of 2020 to at least 7,200MW of secured PPA by 2025 and further to 10,000MW by 2030 with annual revenue of more than US$3 billion being targeted.

• Energy and Environment