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ADB, KBank aid BCPG’s renewable energy Lomligor Project

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The Asian Development Bank, Kasikornbank and BCPG Public Company Limited have signed a facility agreement to finance the 10MW Lomligor Project, BCPG’s wind power plant located in Nakhon Si Thammarat’s Pak Panang district.

The Lomligor Project will be the first wind farm in the country to apply an energy storage system, with a total production capacity of 1.88 megawatt hours.
The system serves as an energy backup, storing excess energy and supplying it back to the system when needed.
This ensures the stability and reliability of renewable energy sources, as well as enhances energy security for communities and supports economic growth across the country in the long run, the company said in a press statement.
The project has been selected by the Office of the Energy Regulatory Commission to be included in its ERC Sandbox Project to pilot the use of the energy management system in wind power plants.
Under the agreement, BCPG will gain financial support of Bt616.10 million from three financial institutes – the ADB (Bt235.6 million), Clean Technology Fund (Bt144.9 million), one of the two trust funds comprising the Climate Investment Funds, established in 2008 to provide financial support for climate-related development efforts, and Kasikorn Bank (Bt235.6 million), according to the statement.
BCPG President Bundit Sapianchai said this financial support was highly significant to the company in terms of investment fund stability. Moreover, the Lomligor Project will help increase the supply of renewable energy to the domestic grid, generating at least 14,870MW of electricity per year while reducing annual carbon dioxide emissions at the rate of 6,263 tonnes beginning in 2020.
“The innovative energy management system is not only in line with a ‘circular economy’ when every unit of generated electricity is tapped into to gain utmost capacity, but is also an alternative to energy backup management in the country,” Bundit added.

Published : May 18, 2020

By : THE NATION