Constant Energy’s very first solar project in Thailand; Nakhon Ratchasima Solar (NRS) farm completed its last debt payment to their lender Krungthai Bank (KTB). KTB is the largest State-owned bank in Thailand, operating for more than half a century. Nakhon Ratchasima Solar (NRS) plant has been developed, built, and asset managed by Constant Energy Solar (Thailand) Co., Ltd. since 2011. The total capacity of this solar farm is 7.49 MW.
Due to limited factory access during the COVID-19 pandemic situation in Thailand, the virtual ceremony was held to celebrate the final paycheck and a long-term partnership between Constant Energy, Sinar Mas Mining, SUN Energy, CKPower, and Krungthai Bank. Hunton Andrews Kurth LLP has also joined as a legal advisor in the transaction via Zoom meeting.
Franck Constant, Founder, and CEO of Constant Energy stated “We are very appreciative and happy to see how far we have come. It has been almost 11 years on this journey with Krungthai Bank since the first day of this project; Nakhon Ratchasima Solar Farm. It has been an amazing experience working with Krungthai Bank, Sinar Mas, CKPower on this project. We appreciate the early vision of our partners and KTB to project finance this solar farm as pioneers with us ten years ago and trusting our team to manage this project day to day in the long term. We hope that in the future there will be more opportunities for us to work together on other green energy projects.”