BECIS-Symbior, one of the leading solar power developers in Asia, has secured a landmark 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. In addition to supporting the shift to solar power, UOB’s green project finance loan will also enable BECIS-Symbior to expand their ongoing efforts in promoting the adoption of clean energy solutions and providing 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. The U-Solar programme 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.
Mr. Florian Bennhold, Chief Executive Officer of BECIS-Symbior, said, 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. 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.
Mr. Kunal Mehta, Chief Executive Officer of BECIS, said, BECIS–Symbior’s green project finance loan from UOB Thailand represents a significant milestone in the development of our business in the country. Partnering with UOB Thailand on this journey not only demonstrates the strength of our business but also reinforces our continued focus on providing a high-quality service and value addition for our customers. I would also like to acknowledge the truly aligned manner in which UOB Thailand worked on this facility with us and as a key partner of the business. We also look forward to further building on this partnership with UOB across Asia.
Mr. Andy Cheah, Managing Director, Country Head of Wholesale Banking, UOB Thailand, said, Through the UOB U-Solar Programme in Thailand, we have been actively engaging industry leaders who are at the forefront of helping the country transition to a low-carbon future. This is part of our commitment to forging a sustainable future with our partners and clients. Tapping our deep knowledge of the solar power industry and financial expertise in structuring portfolio financing, we are pleased to provide BECIS-Symbior with the largest green project finance loan in Thailand’s commercial and industrial solar sector. We will continue to support the company’s ambition and look forward to working with more like-minded companies to drive the greater use of clean energy.
