ADB finances Thailand's first wind power and battery storage project
The Asian Development Bank has agreed a THB235.55 million ($7.2 million) loan with Lomligor Company Limited to finance a 10MW wind power plant in southern Thailand.
The Southern Thailand Wind Power and Battery Energy Storage Project utilizes an integrated 1.88-megawatt-hour pilot battery energy storage system to increase the amount of renewable energy delivered to the grid.
It is the first private sector initiative in Thailand to integrate utility-scale wind power generation with a battery energy storage system. The battery system will allow energy to be stored when the wind turbines generate more power than the grid is able to absorb.
As part of ADB’s blended finance offering for the project, the bank will administer a $4.75 million concessional loan provided by the Clean Technology Fund. 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, said ADB.
The project by Lomligor - a subsidiary of BCPG Public Company Limited - is expected to generate at least 14,870MWh of electricity per year while reducing 6,364 tonnes of annual carbon dioxide emissions in the country beginning in 2020.
