Global Power Synergy, Sumitomo sign $185m green loan agreement
This will be invested in clean energy.
PTT Group’s Global Power Synergy Public Company (GPSC) and the Sumitomo Mitsui Banking Corporation (SMBC) have signed a $185m Green Loan agreement for clean energy development.
The Green Loan agreement, which has a contract term of 10 years, is intended to increase its renewable energy portfolio to over 50% of its total capacity by 2030.
“It will be an important tool in pursuing investment opportunities in clean energy and strengthening the company’s financial position so that the company can efficiently implement the business plans on clean energy,” Worawat Pitayasiri, President and Chief Executive Officer of GPSC, said.
“So far, GPSC has always been investing in alternative energy projects, both in and out of the country, which is corresponding to the new Power Development Plan (PDP 2022), an important part of the National Energy Plan, which will be completed in 2022, focusing on the increase of clean energy consumption.”
GPSC noted this the first green loan in PTT Group designated for the implementation of clean energy projects in the future.