ADB Partners With GULF To Fund Thailand Renewable Projects

13 Feb 2026 CW Team

As lead arranger and bookrunner ADB provided Rs 75 mn from its ordinary capital resources and arranged a Rs 50 mn B-loan from DBS Bank Ltd. The package includes Rs 150 mn in parallel loans from DEG, Development Finance Institute Canada Inc and Export Finance Australia plus a Rs 75 mn loan from the ADB-administered Leading Asia's Private Infrastructure Fund 2 (LEAP 2). International cofinancier support underlined confidence in Thailand's renewable market.

Once commissioned the projects are expected to cut an average of 191,550 tonnes (t) of carbon dioxide each year, contributing to Thailand's net-zero by 2050 target. The initiative aligns with the country's five-gigawatt renewable energy feed-in tariff programme and represents Southeast Asia's first large-scale procurement of solar and battery energy storage systems. Backers expect that integrating large-scale solar with battery storage will improve grid stability and attract further investment.

ADB's country director for Thailand said battery-integrated solar is essential for the transition to affordable reliable clean energy and that cooperation between private investors and development finance institutions can accelerate national renewable goals. GRE and GULF indicated the scheme sets a regional benchmark for grid management. GULF, founded in 2011, has an operational capacity of 16,504 megawatts (MW). LEAP 2 is supported by a Rs 1.5 bn commitment from the Japan International Cooperation Agency and focuses on sustainable private infrastructure.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

The Asian Development Bank (ADB) has partnered with Gulf Renewable Energy Company Limited (GRE), a subsidiary of Gulf Development Public Company Limited (GULF), to provide Rs 350 mn to develop three renewable projects in Thailand. The financing will support two solar plus battery energy storage systems with a combined contracted capacity of 126 megawatts (MW) and 151 megawatt-hours (MWh) of storage and a standalone 68 MW solar plant. The projects aim to expand renewable generation, strengthen grid stability and accelerate decarbonisation of the power sector. As lead arranger and bookrunner ADB provided Rs 75 mn from its ordinary capital resources and arranged a Rs 50 mn B-loan from DBS Bank Ltd. The package includes Rs 150 mn in parallel loans from DEG, Development Finance Institute Canada Inc and Export Finance Australia plus a Rs 75 mn loan from the ADB-administered Leading Asia's Private Infrastructure Fund 2 (LEAP 2). International cofinancier support underlined confidence in Thailand's renewable market. Once commissioned the projects are expected to cut an average of 191,550 tonnes (t) of carbon dioxide each year, contributing to Thailand's net-zero by 2050 target. The initiative aligns with the country's five-gigawatt renewable energy feed-in tariff programme and represents Southeast Asia's first large-scale procurement of solar and battery energy storage systems. Backers expect that integrating large-scale solar with battery storage will improve grid stability and attract further investment. ADB's country director for Thailand said battery-integrated solar is essential for the transition to affordable reliable clean energy and that cooperation between private investors and development finance institutions can accelerate national renewable goals. GRE and GULF indicated the scheme sets a regional benchmark for grid management. GULF, founded in 2011, has an operational capacity of 16,504 megawatts (MW). LEAP 2 is supported by a Rs 1.5 bn commitment from the Japan International Cooperation Agency and focuses on sustainable private infrastructure.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..