EA, SCB sign a green loan worth THB2 billion for new investment projects in integrated electric vehicle business
Energy Absolute PCL (EA) and Siam Commercial Bank (SCB) jointly signed a 2 billion baht green loan for the purpose of investment in electric vehicle public transportation (EV-buses) in Bangkok and surrounding provinces. Among these investment projects are "Pay Pop" electric hire purchase business, which supports EA's pollution free commercial EV bus business.
Mr. Somphote Ahunai, CEO of Energy Absolute PCL and Dr. Yanyong Thaicharoen, Senior Executive Vice President and Chief Executive Officer of Wholesale Business Group, Siam Commercial Bank, attended the signing ceremony at SCB Academy, located at Siam Commercial Bank Headquarters recently.
Mr. Somphote revealed that signing this green loan worth 2 billion baht for a period of four years will strengthen the financial strength of the group, and increase the competitiveness of new S-Curve businesses. The purpose of singing this contract is to support the investment in Pay Pop Co., Ltd, a subsidiary of EA group, to manage the hire-purchase of electric buses. Phase 1 is a hire-purchase plan for operators providing public bus services in Bangkok and its vicinity. Through the adoption of these EV buses, it will elevate the quality of service, reduce pollution and be friendly to the environment. In addition to this, operations of this business can result in financial benefits through the exchange and lending of carbon credits. This is the first carbon credit exchange project in relation to electric public transportation in ASEAN.
"EA is focused on expansion of new businesses to support and build upon current operations of the group continuously. The singing of this green loan from Siam Commercial Bank helps strengthen and enhance the potential of integrated electric vehicle businesses. Under Pop Pay Co., Ltd, the company will be able to achieve the aim to become the country’s leading clean energy innovation company with businesses that cover all aspects of energy management and electric vehicles, creating an electric vehicle eco system (EA’s EV Ecosystem). This is possible through utilizing the most modern and environmentally friendly technology for the highest benefit to all. Additionally, it helps build confidence and creates investment opportunities with partners in green businesses. These factors will be an important force for EA in growing and building society, the economy and the environment towards a sustainable pollution free future,” concluded Mr. Somphote.
