Independent power producer (IPP) Constant Energy has secured THB300 million (US$9.4 million) in green financing from HSBC to expand large-scale solar and battery storage projects in Thailand.
Under its Power Development Plan, Thailand is targeting 15.6GW of solar by 2035, which would account for 20% of the country’s power generation capacity.
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“We are pleased to partner with HSBC to expand our solar projects in Thailand, including rooftop, ground-mounted, and floating systems. This green guarantee and Standby Documentary Credit (DC) facility will help us accelerate our mission to provide clean, renewable energy for our clients, enabling them to reduce their carbon emissions and electricity costs,” said Franck Constant, CEO of Constant Energy.
Bangkok-based Constant Energy owns and operates large-scale solar, wind and battery storage projects across Asia. Founded in 2017, the company has built a 210MW solar portfolio in Thailand, Malaysia and Vietnam. In 2023, Belgian holding company Virya Energy advanced its strategy to expand globally in renewables by acquiring a majority stake in the firm.
