GreenYellow, a global investor and operator of decentralized solar power generation and energy efficiency projects, is pleased to announce a second Project Finance Loan with EXIM Thailand. The agreement entails a substantial facility of 1.109 billion Baht aimed at supporting the expansion of solar power infrastructure across Thailand for GreenYellow.
This significant project finance loan is proceeding under GreenYellow Solar 3 (Thailand) Co., Ltd., which consists of solar rooftop, solar carport, solar floating, and solar farm projects for a total installed capacity of 56 MWp. These solar projects will supply clean energy to 34 private customers under long-term Power Purchase Agreements (Solar PPA), enabling offtakers to benefit from reduced electricity bills through cheaper solar power amidst escalating energy prices while reducing their Scope 2 carbon emissions.
Strategically located across Thailand, these solar projects will contribute to diversifying the nation's energy sources, reducing reliance on traditional fossil fuels and greenhouse gas emissions, while boosting the competitiveness of the local businesses benefiting from such cheaper solar power.
Frank Glück, CEO of GreenYellow Thailand and Asia, stated, “GreenYellow is dedicated to driving positive environmental impacts by offering tangible, immediate, and profitable options for decarbonization. Our solar power plants enable customers to significantly reduce their carbon footprint (Scope 2) while saving on electricity bills. This second project finance loan with EXIM Thailand will further support GreenYellow in Thailand, strengthening the competitiveness and net-zero targets of manufacturers and retailers in Thailand. We share with EXIM Thailand the ambition to promote an energy transition that will be both profitable and sustainable. EXIM’s trust confirms the relevance of our business model and will help us solidify our leadership in decentralized solar PV generation.”
Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), underscored the Bank’s acknowledgment of climate change as a significant catalyst for natural disasters, thereby endangering lives, assets, and economic advancement. With its commitment to fostering sustainable development on both local and global scales, EXIM Thailand has forged strategic collaborations with allied organizations and clients such as GreenYellow to facilitate the integration of businesses into the Environmental, Social, and Governance (ESG) framework while ensuring adherence to international environmental standards. Hence, EXIM Thailand actively promotes the advancement of clean energy initiatives, aligning with its dedication to environmental conservation and the sustainable development of businesses, nations, and the globe as a whole.
GreenYellow offers comprehensive energy solutions that cover every aspect from financing and design to licensing, construction, operation, monitoring, and maintenance—all included in the Solar Power Purchase Agreements (Solar PPA) at no extra cost. Embracing solar energy, GreenYellow's approach is in line with the Thai government's ambitious targets, aiming to reduce greenhouse gas emissions by 40% by 2030 and achieve net-zero emissions by 2050.
