FreeCurrencyRates.com

इंडियन आवाज़     16 Jan 2019 02:32:57      انڈین آواز
Ad

ADB, B.Grimm Power Expand Support for Renewable Energy in ASEAN

ADB
BANGKOK, THAILAND

The Asian Development Bank (ADB) today signed a loan equivalent of up with $235 million to B.Grimm Power Public Company Limited (B.Grimm Power), one of the largest power producers in Thailand, to develop and enhance renewable energy capacity in member countries of the Association of Southeast Asian Nations (ASEAN).

“The development of renewable energy in Southeast Asia is critical to meet its energy needs and B.Grimm Power is at the forefront of the region’s fast growing alternative energy sector,” said Michael Barrow, Director General of ADB’s Private Sector Operation’s Department. “ADB is proud to once again partner with B.Grimm Power as it continues its expansion strategy in ASEAN member countries.”

ADB’s financing will support B.Grimm Power’s implementation of the ASEAN Distributed Power Project, which will expand renewable and distributed power generation into new markets in ASEAN including Cambodia, Indonesia, Lao People’s Democratic Republic, Myanmar, the Philippines, and Viet Nam. The project will involve the execution and operation of distributed and utility-scale solar, wind, biomass, waste-to-energy, gas-fired power, energy storage, as well as associated infrastructure in ASEAN countries.

B.Grimm Power’s total distributed power generation capacity is expected to increase by over 50% to 2,500 megawatts (MW) by 2022, while the renewable energy share in its portfolio will rise from 10% to 30%.

ADB took a B1,968 million ($57.7 million) equity stake in B.Grimm Power as part of the company’s initial public offering in July 2017. ADB also administers a $20 million loan provided by the Canadian Climate Fund for the Private Sector in Asia under the Clean Energy Financing Partnership Facility.

B.Grimm Power is a subsidiary of the 140-year old conglomerate B.Grimm Group, operating in the energy industry since 1993 in Thailand. B.Grimm Power currently has a total capacity of 1,779 MW, operating 13 gas-fired plants, with 4 more under development or construction. In recent years, B.Grimm has diversified into renewable energy and is operating 15 solar power plants and 2 hydro power plants.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members—48 from the region.

Leave a Reply

Your email address will not be published. Required fields are marked *

Ad
Ad

SPORTS

Punjab, Goa in the Semi finals of Boys U-21 Football at KIYG

HSB / Pune Trailing 0-1 till the 56th Minute Punjab staged a fine recovery to down Goa 2-1 but both the teams ...

Odisha bag KIYG Under-21 men’s hockey gold

HSB / Mumbai Odisha thwarted Haryana from completing a hockey double as they beat them 4-2 in the Boys Under- ...

India wins 2nd ODI against Australia by 6 wickets

Virat Kohli made a sublime 104-run knock as India defeated Australia by six wickets in the second One-day Inte ...

Ad

MARQUEE

Major buildings in India go blue as part of UNICEF’s campaign on World Children’s Day

Our Correspondent / New Delhi Several monuments across India turned blue today Nov 20 – the World Children ...

US school students discuss ways to gun control

             Students  discuss strategies on legislation, communities, schools, and mental health and ...

CINEMA /TV/ ART

Noted Film actor Kader Khan passes away in Canada

Born in Kabul, Khan made his acting debut in 1973 with Rajesh Khanna's "Daag" and has featured in over 300 fil ...

Mortal remains of Mrinal Sen cremated in Kolkata

    Mortal remains of Legendary filmmaker Mrinal Sen, the last of the triumvirate of directi ...

Ad

@Powered By: Logicsart