Bond Guarantee for Renewable Energy and Energy Storage Project (ADB-51222-001)

Countries
  • Thailand
Geographic location where the impacts of the investment may be experienced.
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
Nov 10, 2017
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
EA Solar Lampang, EA Solar Phitsanulok, EA Wind Hadkanghan 3, Energy Absolute Public Company Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
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 Jun 25, 2020

Disclosed by Bank May 28, 2018

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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.

According to the bank document, the project will enable the company to establish a manufacturing facility for energy storage using cutting edge lithium-ion polymer technology that helps it to be an early-mover in the emerging large scale energy storage market in the region. Energy storage is a key enable of decentralized renewable power generation in emerging markets and it is broadly accepted as one of the largest opportunities in the power sector of the near future. The proposed project is also consistent with the Government of Thailand’s promotion of alternative energy under the Alternative Energy Development Plan, 2015-2036 which is expected to increase renewable energy from current 8% to 30% of total capacity by 2036. The plan was developed as part of the government’s strategy to diversify the energy mix and promote renewable energy that marks the significant potential of renewable energy inthe country and indicates that energy import can be avoided through development of domestic renewable energy projects with participation of private sector investment.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to the bank document, Energy Absolute is the leading renewable energy company in Thailand which was set up in 2006. The company focuses its main operations on renewable energy generation, including solar and wind, biodiesel production and distribution. Currently, the company owns four solar projects with total of 278 MW and one wind power project with a total capacity of 126 MW in operation. The company also has 260 MW of wind power project under construction. Upon completion, the company will have a total of capacity of 664 MW from renewable energy projects.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Energy Absolute Public Company Limited Client -

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.

Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Infrastructure Finance Division 2
Responsible ADB Officer Hong, Won Myong

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

How it works

How it works