|CAMSOLAR 2022 EXPO NEWS: B Grimm Power Plc received $28.1 million LOAN FOR solar project in Cambodia
In a future boost to Cambodia’s renewable energy efforts, the Bangkok-based B Grimm Power Plc has received a $28.1 million syndicated loan to undergird its solar energy project in northwestern Cambodia. Cambodia is expected to add 1,815 MW of solar power by 2030 and has a potential output of 44,000 MW.
Under a 15-year deal penned on October 28, top Thai lenders Kasikornbank (KBank), Export-Import Bank of Thailand (Exim Thailand) and Bangkok Bank have made the funds available to RPS, a wholly-owned subsidiary of B Grimm Solar Power 1 Co Ltd, the Bangkok Post reported.
KBank executive vice-president Tipakorn Saiphatana said the loan is in line with the bank’s policy to encourage investment for sustainability and support customers’ transition to a net-zero emissions future.
“KBank believes that the project will play an important role in contributing to the development of highly efficient and reliable electricity services and utilities, which is an important foundation for Cambodia’s economic growth,” Tipakorn was quoted as saying.
Cambodia aims to add 495MW of solar power capacity from seven projects by 2023, which will represent “20 per cent” of the total energy supply by then, according to the Ministry of Mines and Energy.
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