UOB Thailand announced it has extended an incremental THB150 million green trade financing facility under U-Solar 2.0 to Polytechnology, one of the leading distributors of solar inverters in Thailand and a value-added partner of Huawei. With this facility, Polytechnology will procure solar equipment from its key partner to support its customers’ ongoing solar projects.
The green trade financing facility extended to Polytechnology is part of the expanded U-Solar 2.0 programme that simplifies access to sustainable financing for solar project developers, engineering, procurement, and construction contractors, and leading equipment suppliers. By connecting these players, U-Solar 2.0 helps ensure a smooth financial flow for them to meet the growing demand for solar energy adoption.
Mrs Amporn Supjindavong, Executive Director, of Commercial Banking, at UOB Thailand, said, “The collaboration between UOB Thailand and Polytechnology highlights our commitment under U-Solar 2.0 to facilitate a smooth financial flow for solar development projects in the country. With our support from us, Polytechnology can better finance the purchase of equipment and work on multiple projects simultaneously, supporting them in seizing more business opportunities.”
Mr Narratchai Leeraphante, President, of Polytechnology Co., Ltd. said, “UOB’s green trade financing facility will be used as working capital towards procuring inverters and Energy Storage Systems (ESS) from Huawei. This first green trade loan from UOB Thailand will also enable us to timely supply such equipment to our customers as the demand has risen.”