ADB to develop renewable energy

Renewable energy projects in Thailand, Cambodia, Indonesia and Myanmar

BANGKOK: The Asian Development Bank (ADB) has subscribed to 123 million shares worth 1,968 million Thai bhat ($57.7 million) of an initial public offering of Thailand’s B Grimm Power Public Company to develop renewable energy projects in Southeast Asia.

ADB will also administer a loan of up to $20 million from the Canadian Climate Fund under ADB’s Clean Energy Financing Partnership Facility.



“The project will help support B Grimm in diversifying its energy production and expand to other less-developed countries,” said Jackie Surtani, Director of ADB’s Private Sector Operations Department. “In doing so, the project will help the ASEAN region in its transition to a low-carbon economy through the development of renewable energy.”

ADB’s equity investment will be earmarked towards B Grimm’s 114-megawatt solar projects and 16MW wind power projects in Thailand as well as solar, wind and other renewable energy projects in Cambodia, Indonesia and Myanmar etc.



Published in The Express Tribune, July 20^th, 2017.

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