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BECIS-Symbior secures Bt1.26-billion loan under UOB green project finance scheme

Dec 03. 2020
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By The Nation

Asian solar power developer BECIS-Symbior has secured a Bt1.26-billion green project loan from UOB Thailand to finance its on-site solar photovoltaic (PV) projects, the firms said in a press release on Wednesday.

BECIS-Symbior and UOB Thailand execs sign loan documents at BECIS-Symbior’s office in Bangkok.

The deal, which will fund a total of up to 75 megawatts-peak in installed capacity, is the largest portfolio financing in Thailand's commercial and industrial solar sector to-date, the press statement said.

BECIS-Symbior’s PV projects, when at peak production, will help reduce up to 41,000 tonnes of greenhouse gas emissions every year, the statement said.

“In addition to supporting the shift to solar power, UOB’s green project finance loan will also enable BECIS-Symbior to expand their ongoing efforts in promoting the adoption of clean energy solutions and providing more affordable and energy-as-a-service solutions for commercial and industrial clients,” it said.

“The collaboration with BECIS-Symbior marks a significant step in sustainable financing for UOB Thailand under its U-Solar programme, Asia’s first integrated solar power platform across UOB’s key Southeast Asian markets. The U-Solar programme is part of the UOB Smart City Sustainable Finance Framework, which guides the bank’s financing efforts to support development of smart and sustainable cities across the region,” the statement said.

“BECIS-Symbior’s mission is to support our customers on their journey to reduce their environmental footprint and to achieve their sustainability goals while reducing operating costs,” BECIS-Symbior CEO Florian Bennhold said.

“The efficient and unique portfolio financing structure provided by UOB Thailand, combined with BECIS-Symbior’s singular expertise in delivering and operating solar PV power plants, enables us to provide the most competitive rates for renewable power to commercial and industrial customers in Thailand. This further cements BECIS-Symbior’s leadership in Thailand as a provider of clean energy-as-a-service solutions,” he added.

“BECIS-Symbior’s green project finance loan from UOB Thailand represents a significant milestone in the development of our business in the country,” BECIS chief executive Kunal Mehta said.

“Partnering with UOB Thailand on this journey not only demonstrates the strength of our business but also reinforces our continued focus on providing a high-quality service and value addition for our customers,” he added.

“Through the UOB U-Solar Programme in Thailand, we have been actively engaging industry leaders who are at the forefront of helping the country transition to a low-carbon future,” said Andy Cheah, managing director, country head of Wholesale Banking, UOB Thailand. “This is part of our commitment to forging a sustainable future with our partners and clients. Tapping our deep knowledge of the solar power industry and financial expertise in structuring portfolio financing, we are pleased to provide BECIS-Symbior with the largest green project finance loan in Thailand’s commercial and industrial solar sector. We will continue to support the company’s ambition and look forward to working with more like-minded companies to drive the greater use of clean energy.”

The UOB Thailand loan to BECIS-Symbior has received the Best Green Loan Award in Thailand, Sustainable Finance, at The Asset Triple A Country Awards 2020, the statement added.

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