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Thailand Business News – ADB and GRE Sign $350 Million Deal to Accelerate Thailand’s Transition to Green Energy

Article Summary:

The Asian Development Bank (ADB) has teamed up with the Gulf Renewable Energy Company Limited (GRE) to sign a landmark $350 million loan agreement. This initiative aims to propel Thailand’s green energy transition significantly.

The financing will support the construction of three vital renewable energy projects. These include two solar-plus-battery energy storage systems (BESS) with a combined capacity of 126 megawatts (MW) for solar generation and 151 megawatt-hours of energy storage.

Additionally, a solar power plant with a contracted capacity of 68 MW will be developed. Together, these projects are expected to reduce carbon dioxide emissions by approximately 191,550 tons annually, enhancing Thailand’s power sector decarbonization efforts.

Original Article:

ADB and GRE Ink $350 Million Agreement to Boost Thailand’s Green Energy Shift

The Asian Development Bank (ADB) and Gulf Renewable Energy Company Limited (GRE), a subsidiary of Gulf Development Public Company Limited (GULF), have signed a $350 million loan agreement.

This landmark deal is designed to significantly boost Thailand’s green energy transition by expanding renewable energy generation capacity and supporting the decarbonization of the country’s power sector.

The financing package will facilitate the construction and development of three critical energy projects:

  • Two solar-plus-battery energy storage systems (BESS) with a combined contracted capacity of 126 megawatts (MW) for solar generation and 151 megawatt-hours of energy storage.
  • One solar power plant with a contracted capacity of 68 MW. Once operational, these projects are projected to reduce carbon dioxide emissions by an average of 191,550 tons annually, directly contributing to Thailand’s…

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