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.

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.

Resources

13 Apr 2026

Jyoti Structures wins three CIDC Vishwakarma Awards

Jyoti Structures has received three awards at the 17th CIDC Vishwakarma Awards 2026, organised by the Construction Industry Development Council, recognising excellence across project execution, workforce and leadership.The company was honoured under Category G (Best Construction Projects) for the 400/220 kV D/C Goa–Tamnar Transmission Project in Goa, following a multi-stage evaluation covering performance, safety and quality benchmarks.In Category E2 (Artisans & Supervisors), four members from JSL’s site team working on the Torrent project were recognised, reflecting consistency in sit..

Infrastructure Urban

13 Apr 2026

Premier Energies Secures Rs 25,770 mn Orders In Q4

Premier Energies Limited has received orders aggregating to Rs 25,770 million (mn) in the fourth quarter of fiscal year 2026 for the supply of 1,600 megawatt (MW) solar cells and modules. Execution of these orders is scheduled across fiscal year 2027 and fiscal year 2028 and the contracts have been secured from a mix of domestic independent power producers, module manufacturers and engineering, procurement and construction contractors in India. Capacity increases support the order book, with cell capacity expected to reach 10.6 gigawatt (GW) by September 2026 and module manufacturing capacity ..

Building Material

13 Apr 2026

Steel Exchange India Reports Rs 280 mn Debt Repayment

Steel Exchange India Limited (SEIL), one of the leading integrated steel manufacturers in South India and the maker of SIMHADRI TMT, has reported the repayment of Rs 280 mn of debt over the last two quarters. The company informed exchanges under listing regulations that the repayment was part of scheduled deleveraging measures aimed at strengthening the balance sheet. The update followed credit facilities that were taken in September 2025 to support operations and growth initiatives. During the period October 2025 to March 2026 a partial redemption was executed with Rs 214.3 mn directed toward..