EXIM Thailand is collaborating with ICBC (Thai) and ICBC Hanoi to provide a US$38.39-million (Bt1.2-billion) financial facility to Super Energy Corporation Plc for investing in a 50-megawatt solar power plant in Vietnam’s Phu Yen province.
Pisit Serewiwattana, president of Export-Import Bank of Thailand (EXIM), along with Shiqiang Lin, chief executive officer of Industrial and Commercial Bank of China (Thai) (ICBC (Thai)), and Jormsup Lochaya, chairman of the board of Super Energy Corporation Plc, recently signed the agreement for Thinh Long Phu Yen Solar Power Joint Stock Co, established in Vietnam and wholly owned by Super Energy, to invest in a solar power plant with a generating capacity of 50MW.
The EXIM and ICBC collaboration aims to promote and encourage high-worth Thai investors to invest in renewable energy projects in response to demands from both public and private sectors in Vietnam after its government liberalised the renewable energy businesses under the National Energy Development Master Plan.
According to the plan, solar power generating capacity is targeted to jump from 850MW in 2020 to 12,000MW within 10 years. The financial collaboration is in line with Thailand’s policy to foster connectivity with Asean as well as expand the Kingdom’s economic cooperation with neighbouring countries in a bid to help the region move forward with sustainable development.