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May 18, 2020

ADB to finance Southern Thailand wind power and battery energy storage project

The Asian Development Bank (ADB) has agreed to finance the Southern Thailand wind power and battery energy storage project.

The Asian Development Bank (ADB) has agreed to finance the Southern Thailand wind power and battery energy storage project.

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The loan was signed with Lomligor, a subsidiary of BCPG Public Company (BCPG).

The project is expected to generate around 14,870MWh of electricity annually while offsetting 6,364 tonnes of carbon in the country starting this year.

Additionally, the project is expected to grow the flow of renewable energy to Thailand’s domestic grid.

ADB private sector operations department Southeast Asia, East Asia, and the Pacific infrastructure finance division director Jackie B Surtani said: “This project contributes to Thailand’s Power Development plan targets for clean energy and also demonstrates the potential of integrated renewables and batteries to provide clean energy for southern Thailand.

“This will enhance the resilience of the region’s electricity grid, provide energy security for communities, and support economic growth across the country.”

As part of this initiative, ADB will provide a loan of THB235.55m ($7.2m) to Lomligor for the construction of a 10MW wind power plant, which will utilise 1.88MWh pilot battery energy storage system.

ADB will be administering the $4.75m concessional loan provided by the Clean Technology Fund (CTF).

BCPG president Bundit Sapianchai said: “Lomligor is the first wind power plant in Thailand to adopt energy storage system technology as the solution to the intermittency of wind power

“This will help enhance energy management efficiency and the resilience of energy grids. We are grateful to ADB for acknowledging the initiative of Lomligor Project in applying energy storage system technology to energy production and providing BCPG with such significant financial support including Clean Technology Fund (CTF) mobilisation for the project.”

Last November, ADB signed a $180m agreement with Gulf PD to develop and operate a 2,500MW power plant in Thailand.

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Free Report
img

Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
Get ahead of this growing market and win big by utilizing our report.
by GlobalData
Enter your details here to receive your free Report.

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