The Manila based financial intuition Asian Development Bank (ADB) has signed $7.2 million loan with Lomligor Company Limited (Lomligor), a subsidiary of BCPG Public Company Limited (BCPG), to finance a 10-megawatt (MW) wind power plant in southern Thailand.
The Southern Thailand Wind Power and Battery Energy Storage Project is the first private sector initiative in Thailand to integrate utility-scale wind power generation with a battery energy storage system.
The project utilizes an integrated 1.88-megawatt-hour (MWh) pilot battery energy storage system to increase the amount of renewable energy delivered to the grid.
The battery system will allow energy to be stored when the wind turbines generate more power than the grid is able to absorb, which will help ensure the stability and reliability of the renewable energy source.
The major deals and financial assistance by ADB are mentioned below:
May 2020: Asian Development Bank (ADB) has announced a $100 million loan to the Government of Mongolia to mitigate the severe health and economic impacts of the novel coronavirus disease (COVID-19) pandemic.
May 2020: Asian Development Bank (ADB) has announced an additional $500 million loan to bolster the efforts of the Government of Bangladesh to manage the impact of the novel coronavirus disease (COVID-19) pandemic on the countrys economy and the public health.
May 2020: Asian Development Bank (ADB) has provided a $25 mn trade loan to the State Pharmaceuticals Corporation of Sri Lanka (SPC) to purchase medical supplies as part of the countrys response to the novel coronavirus disease (COVID-19) pandemic.
April 2020: Asian Development Bank (ADB) has approved approximately $1.5 billion loan to the Government of India to help fund its response to the novel coronavirus disease (COVID-19) pandemic. ADBs COVID-19 Active Response and Expenditure Support (CARES) Program will contribute directly to the improvement of access to health facilities and care.
April 2020: Asian Development Bank (ADB) has approved a $200 million loan to support the Philippine governments effort to provide emergency cash subsidies to weak households amid the COVID-19 pandemic. The financial assistance by ADB will support the governments emergency subsidy program, which was designed to help vulnerable households get through this very difficult period and avoid falling into poverty.
April 2020: Asian Development Bank (ADB) has announced approximately $1.5 billion financial support to the Government of Indonesia to alleviate the impact of the novel coronavirus disease (COVID-19) pandemic on public health, and the national economy. Indonesia has been severely affected by the global pandemic.
April 2020: Asian Development Bank (ADB) has assured Indian government to support with approximately $2.2 billion in its fight against the novel coronavirus disease (COVID-19) pandemic.
April 2020: Asian Development Bank (ADB) has approved $200,000 as an emergency medical assistance to help the Kyrgyz Republic to fight against coronavirus (COVID-19) pandemic.
January 2020: Asian Development Bank (ADB) has signed a $37.8 million loan deal with TTC Energy Development Investment Joint Stock Company (TTC Energy) to develop a 50MW photovoltaic solar power plant in Tay Ninh Province in Viet Nam. A supplementary $7.6 million loan was provided by Leading Asias Private Infrastructure Fund, which is supported by the Japan International Cooperation Agency.
November 2019 and December 2019, ADB announced projects in Pacific region, financial supports to the ECEC project in India, a power plant project in Thailand, a hydropower plant in Nepal, and transmission lines expansion project in Greater Dhaka, Bangladesh. These are featured below:
In December 2019, ADB announced intention of investing approximately $1 billion in energy projects in the Pacific region from 2019 to 2021 to increase renewable energy generation. ADB plans to improve access to affordable and sustainable electricity in the subregion. ADB is helping Pacific countries by providing finance and direct technical assistance. The projects financed by ADB will develop solar, wind, and hydropower facilities; install battery storage technology; and improve transmission lines to have access to affordable electricity.
ADB signed a $451 million loan agreement with the Government of India to strengthen power connectivity between the southern and northern parts of the ChennaiKanyakumari Industrial Corridor (CKIC), which is part of the East Coast Economic Corridor (ECEC), in Tamil Nadu.
ADB provided $180 million for a 2,500-megawatt (MW) combined-cycle gas turbine power plant in the Rojana Rayong 2 Industrial Park of Thailands Rayong Province. The project will be the fourth-largest power plant and one of the largest combined cycle gas turbine power plants in Thailand.
Further ADB approved a $300 million loan for expansion of transmission lines in Greater Dhaka and the western zone of Bangladesh. ADB will help finance transmission lines, substations, and an enterprise resource planning system.
About The Asian Development Bank
The Asian Development Bank (ADB) is a Manila-based regional development bank formed in 1966 which assists its members by providing loans, grants, technical assistance, and equity investments to promote social and economic development in the region.
ADB is committed to achieving a prosperous, resilient, inclusive, and sustainable Asia and the Pacific region. It empowers people by providing information with a set of principles and exceptions.