Northeastern Thailand Wind Power Project (ADB-49263-001)

Countries
  • Thailand
Geographic location where the impacts of the investment may be experienced.
Specific Location
Chaiyaphum
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 8, 2015
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
BANCHUAN DEVELOPMENT LN3366 et al
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 5,289.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 5,289.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Jul 2, 2020

Disclosed by Bank Mar 31, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The 260-megawatt (MW) wind power project aligns with Thailand’s energy development plan for 2015–2036 and its goal to generate 30% of its primary energy needs from renewable sources by 2036. 3 This would avoid 140 million tons of carbon emissions annually. 4 Despite strong government commitment to and incentives for renewable energy development since 2010, only 225 MW of wind power capacity had been installed in the country as of July 2015. Major private sector investments are needed if the current plan’s target to increase this installed capacity to 3,002 MW by 2036 is to be met. The project is part of the long-term growth strategy of the sponsor, Energy Absolute, which aims to expand its investments in renewable energy generation and become one of the leading alternative energy companies in Southeast Asia.

The project entails the construction and operation of wind power facilities with a total installed power generation capacity of 260 MW in Chaiyaphum Province, about 300 kilometers northeast of Bangkok.

Sponsor: Energy Absolute was established in 2006 and focuses on solar and wind power generation and biodiesel production and distribution. As of June 2015, the company had four solar power projects in operation with a capacity of 188 MW and one 90 MW project under construction. Its total solar capacity is expected to be 278 MW once construction of that project is completed. The company is also constructing a 126 MW wind farm in southern Thailand with commercial operations expected in the second quarter of 2016. Energy Absolute is listed on the Stock Exchange of Thailand in the market for alternative investments. Its current market capitalization is about $2.26 billion.9

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The borrower companies are:

BANCHUAN DEVELOPMENT LN3366
Energy Absolute Public Company Limited
NAYANGKLAK DEVELOPMENT CTF8304
PONGNOK DEVELOPMENT CTF8306
BANCHUAN DEVELOPMENT CTF8301
BENJARAT DEVELOPMENT CTF8303
NAYANGKLAK WIND POWER CTF8305


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main

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How it works