Solar power firm BECIS-Symbior has secured a 1.26-billion-baht green project finance loan from UOB Thailand to finance its portfolio of on-site solar photovoltaic (PV) projects.
The deal, which will fund a total of up to 75 megawatt-peak (MWp) in installed capacity, is the largest portfolio financing in Thailand's commercial and industrial solar sector to date.
BECIS-Symbior's PV projects, when at peak production, will help reduce up to 41,000 tonnes of greenhouse gas emissions every year. The loan will also enable BECIS-Symbior to expand its ongoing efforts in promoting the adoption of clean energy solutions and provide more affordable and energy-as-a-service solutions for commercial and industrial clients.
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. This is part of the UOB smart city sustainable finance framework, which guides the bank's financing efforts to support the development of smart and sustainable cities across the region.
"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 their operating costs," said Florian Bennhold, chief executive of BECIS-Symbior. "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."
The loan received the Best Green Loan award in Thailand, Sustainable Finance at The Asset Triple A Country Awards 2020.
"BECIS–Symbior's green project finance loan from UOB Thailand represents a significant milestone in the development of our business in the country," said Kunal Mehta, chief executive of BECIS. "Partnering with UOB Thailand not only demonstrates the strength of our business but also reinforces our focus on providing a high-quality service and value addition for our customers."