ADB to Loan $85 Million for Three Solar Power Plants in Thailand

The Asian Development Bank will lend $85 million to Solarco, a unit of Thailand’s second-biggest private power producer, for three solar plants.

The 57 megawatts of projects will be developed at three main sites in Nakhonpathom and Suphanburi provinces in central Thailand, ADB said in an April 12 statement on its website.

A $52 million loan has been approved for Solarco, a unit of Electricity Generating (EGCO) Public Co. An additional $33 million will be given to Solarco through the ADB Clean Technology Fund.

Electricity Generating plans to raise its installed capacity of renewable energy to more than 300 megawatts by 2015 from 9.9 megawatts of biomass and 64 megawatts of solar capacity currently, according to the statement.

To contact the reporter on this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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