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