The Asian Development Bank (ADB) has sanctioned a loan of THB4.2bn ($138.5m) to The Bangchak Petroleum Company (BCP) to build two solar power plants in Ayutthaya, central Thailand.
The 8MW and 30MW plants are part of ADB's Asia Solar Energy Initiative to realise 3,000MW of solar power in a number of countries by mid 2013.
They will help Thailand in achieving 20.4% of its primary commercial energy from renewable sources by 2022.
The Electricity Generating Authority of Thailand (EGAT) and the Provincial Electricity Authority will be buying the power generated by the two plants.
ADB will also provide $400,000 technical assistance to BCP to develop, implement, and monitor its carbon neutral goals and provide training to other energy companies in zero-carbon emission strategies.