GreenYellow, a global investor and operator of decentralized solar power generation and energy efficiency projects, has secured a new project finance loan for a total amount of 831 million Baht with Export-Import Bank of Thailand (EXIM Thailand), to further boost its footprint in Thailand. This financial transaction will fund the growth of GreenYellow’s activities in Thailand, including the expansion of its solar portfolios, to achieve its ambitious development appetite and help its clients reduce their environmental footprint as well as save on soaring electricity costs.
The deal is a project finance loan for the portfolio of 41 solar projects under GreenYellow Solar 2 (Thailand) Co., Ltd, which encompasses rooftop installations, solar farms, and floating solar, for a total installed capacity of 44 MWp. The solar projects are distributed nationwide and supply solar power – complementing the PEA/MEA grid during daytime – to 27 private customers through long-term Solar Power Purchase Agreements (PPA). The solar installations enable GreenYellow’s customers to reduce their greenhouse gas emissions and lessen the collective dependence on fossil fuel, generating green energy in relation to net-zero carbon targets. The projects also help them save on their electricity bills through more affordable solar power, at a time of rising energy prices. This new loan provided by EXIM Thailand allows GreenYellow to strengthen its position as a recognised developer, owner, and operator of clean energy assets, and to propose cost-effective solar self-consumption solutions to its customers, supporting the competitiveness of manufacturers and retailers in Thailand.
“As the climate change is a major cause of several natural disasters and has threatened the safety of lives and properties, as well as impeded development in economic, social and environmental dimensions and pushed up operation costs of all sectors, EXIM Thailand with its role as “Thailand Development Bank” has placed importance on supporting Thai businesses to grow sustainably alongside the society and environment. The Bank has been working closely with its stakeholders to support Thai entrepreneurs’ adaptation to the environmental, social and governance (ESG) framework and international environmental standards. EXIM Thailand has so far rendered financial facilities to businesses in the Bio-Circular-Green (BCG) economy representing approximately 30% of its entire loan portfolio or accounting for around 50,000 million baht. Looking forward, the Bank has targeted to grow BCG loans to 100,000 million baht by 2027 to join global community in reduction of greenhouse gas emissions to achieve carbon neutrality”. said Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand)
“This financing project will enable GreenYellow to further deploy its solar self-consumption solutions in Thailand. We are delighted to partner with EXIM Thailand, which has a strong track record of successful projects and extensive experience in the energy sector, as we share the same mission to support more usage of renewable energy to help support the transition to a net-zero carbon economy,” said Frank Glück, CEO of GreenYellow Thailand and Asia
GreenYellow provides a wide range of one-stop energy solutions which encompass all the processes from finance, license application, design to construction, operation, monitoring, and maintenance without any additional charges under the Solar Power Purchase Agreements (PPA). With the use of solar power, GreenYellow direction aligns with the Thai government’s 2030 goal of reducing greenhouse gas emissions by 40% and the 2050 goal of achieving net zero emissions.
