ADB and Energy Absolute sign deal for first Thai Green Bonds
The Asian Development Bank (ADB) signed an agreement last week with Energy Absolute, a Thai solar and wind power producer, to purchase nearly $100 million in Green Bonds from the company. The Green Bonds are the first in Thailand to raise funds for wind-power projects.
“The bond, supported and invested by ADB, is the first certified climate bond for wind power in Thailand under the Climate Bonds Standard (CBS) of the Climate Bonds Initiative,” the Bank said in a statement.
The signing ceremony took place on the sidelines of the ‘Seminar on the Development of Green Bonds in Thailand’ organized by the Capital Market Research Institute, the Stock Exchange of Thailand (SET), and the Asian Development Bank in Bangkok last week.
“The objective of the seminar is to provide opportunities for the private sector including listed companies, academia, media, and the general public to learn about green bond issuance,” the ADB said.
“It will also serve to exchange views and experiences on potential growth of green bond on energy and transport sectors in Thailand and the region by experts from ADB, representatives from the government sector and leading Thai companies,” the Bank said.
The proceeds from the bonds will help support the long-term financing of energy Absolute’s 260-megawatt Hanuman wind farm in northeastern Chaiyaphum province. The investment will contribute to Thailand’s renewable energy objectives and its ongoing efforts to reduce carbon emissions, the Bank said.
Thailand is the largest producer of solar and wind power in Southeast Asia. The Hanuman wind farm is the largest in Thailand and one of the largest in the region.
Photo courtesy of https://www.adb.org/news/adb-invests-3-billion-thai-baht-energy-absolutes-green-bond-wind-farm-development