The Asian Development Bank (ADB) has signed a loan with Lomligor Company Limited to finance a 10 MW wind power plant in southern Thailand. The project utilizes an integrated 1.88 MWh pilot battery energy storage system to increase the amount of renewable energy delivered to the grid.
The Southern Thailand Wind Power and Battery Energy Storage Project is the first private sector initiative in Thailand to integrate utility-scale wind power generation with a battery energy storage system. The annual electricity output is expected to reach at least 14,870 MWh while reducing 6,364 tons of annual CO2 emissions beginning in 2020.
Lomligor is a subsidiary of BCPG, a leading renewable energy company in Thailand with 507.5 MW of total installed capacity in operation and a further 415.0 MW under development.
ADB’s blended finance offering for the project includes a $4.75 million USD concessional loan provided by CTF, one of two trust funds comprising the Climate Investment Funds, established in 2008. The concessional loan was critical in overcoming some of the project’s bankability challenges and supports the scaling up and replication of battery storage projects in Southeast Asia. Kasikornbank PCL is also supporting the project with a $7.2 million USD loan.
“This project contributes to Thailand’s Power Development Plan targets for clean energy and also demonstrates the potential of integrated renewables and batteries to provide clean energy for southern Thailand,” said Infrastructure Finance Division Director for Southeast Asia, East Asia, and the Pacific at ADB’s Private Sector Operations Department Jackie B. Surtani. “This will enhance the resilience of the region’s electricity grid, provide energy security for communities, and support economic growth across the country.”
“Lomligor is the first wind power plant in Thailand to adopt energy storage system technology as the solution to the intermittency of wind power,” said BCPG President Bundit Sapianchai. “This will help enhance energy management efficiency and the resilience of energy grids. We are grateful to ADB for acknowledging the initiative of Lomligor Project in applying energy storage system technology to energy production and providing BCPG with such significant financial support including Clean Technology Fund (CTF) mobilization for the project.”
Source & Image: Asian Development Bank |
www.adb.org
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