EXIM Thailand Finances SUPER Group's Development of New Wind Power Plant in Vietnam

Thursday 06 May 2021 16:58
EXIM Thailand Finances SUPER Group's Development of New Wind Power Plant in Vietnam in Line with the Policy on Building New S-Curve Industries and Bio-Circular-Green Economy
EXIM Thailand Finances SUPER Group's Development of New Wind Power Plant in Vietnam

EXIM Thailand has provided a credit facility worth 73.95 million US dollars or approximately 2,300 million baht to SUPER Group to finance its investment in a wind power plant in Vietnam. This is in line with EXIM Thailand's redefined role toward being Thailand Development Bank with a mandate to build new S-curve industries and link investment internationally.

Dr. Rak Vorrakitpokatorn, President of Export-Import Bank of Thailand (EXIM Thailand), and Mr. Jomsup Lochaya, Chief Executive Officer of Super Energy Corporation Plc. (SUPER) recently signed a credit facility agreement at EXIM Thailand's Head Office to render a credit facility worth 73.95 million US dollars or approximately 2,300 million baht for SUPER's investment in the construction of a wind power plant in Gia Lai province of Vietnam with a production capacity of 50 MW.

EXIM Thailand President said that this financial support is aimed at promoting and encouraging Thai entrepreneurs with high potential to expand their investment abroad to a greater extent. The Bank is a government-owned bank that has pioneered investment in renewable energy projects of Thai entrepreneurs in Vietnam, while SUPER is a Thai investor with expertise and experience in development of renewable energy projects. This has responded to the increasing demand of public and private sectors in Vietnam following the Vietnamese government's liberalization of renewable energy business under its National Power Development Plan and promotion of foreign direct investment in this business. Renewable power production capacity in Vietnam is targeted to increase from 11% in 2020 to the level not lower than 21% of the country's total power production capacity by 2030. This project is also in line with EXIM Thailand's policy to drive the organization toward being Thailand Development Bank that supports such new industries as those in the bio-circular-green economy, which will ensure ASEAN's energy security alongside balanced and sustainable economic, social and environmental growth.

"Amid several surrounding challenges today, EXIM Thailand has remained steadfast in forging ahead toward being Thailand Development Bank by accelerating industrial renovation, building and enhancement for national development in trade and investment dimensions together with fostering cooperation between Thailand and countries elsewhere, especially ASEAN member states. As a government-owned specialized bank, we are fully equipped to assist and take care of entrepreneurs of all scales, while developing new S-curve industries and leading Thai businesses in penetrating global market on a balanced basis. This aims to enable all economic, social and environmental sectors to grow together in a sustainable manner," added Dr. Rak.

Source: EXIM Bank of Thailand