Green finance/EXIM Thailand

Editorial staff

EXIM Thailand finances 1.1 billion baht to Green Yellow Group.

Exim Thailand finances 1.1 billion baht to Green Yellow Group in installation of solar power generating systems to promote green economy.

Rak Vorrakitpokatorn, president of Export-Import Bank of Thailand (EXIM Thailand), and Frank Glück, chief executive officer of Green Yellow Thailand and Asia, recently jointly signed an EXIM Thailand credit facility agreement worth 1.1 billion baht to GreenYellow Solar 3 (Thailand) Co., Ltd. (GY3).

Mr Rak said that the EXIM Thailand’s financial facility aims to enhance the world-class energy business’ role in solar cell system investment, installation, operation, and maintenance for business establishments in Thailand to help them save electricity costs and conserve the environment with the use of clean energy.

This would also respond to the government policy to drive national development with the bio-circular-green (BCG) economic model and synergize with global community in mitigation of greenhouse gas emissions and relief of global warming and climate change, which has increasingly intensified.

Green Yellow Group was founded in France and has expanded its business to 17 countries worldwide. It has keen expertise in solar power and energy efficiency solutions on an end-to-end basis to provide clean and affordable energy as well as reduce energy consumption for its business counterparts around the world. Green Yellow Group has invested in solar energy projects for 1,300 MW in total installed capacity, of which 190 MW of installed capacity is for diverse industries in Thailand.

At present, Green Yellow Solar3 (Thailand) has signed solar power purchase agreements (Solar PPA) with more than 34 Thai businesses to install solar rooftops, solar carports, solar floating and solar farms with a total installed capacity of 56 MW and has planned to expand its business both in Thailand and across ASEAN.

“EXIM Thailand has been steadfast in accomplishing our role as the green development bank under the greenovation strategy, aiming to develop green financial innovations for acceleration of Thai businesses’ entry of the green supply chain and drive the organization toward our goals of carbon neutrality by 2030 and net zero emissions by 2050, which would be 20 years and 15 years ahead of Thailand’s goals respectively, by way of improving efficiency in management and reduction of greenhouse gas emissions within the organization alongside augmentation of sustainability loan proportion to 50% of total loan portfolio by 2028,” Mr Rak added.