Asian Development Bank Sets Up New Loan for Monsoon Wind

BCPG Plc, the renewable energy branch of largely state-owned Bangchak Corporation Plc, has selected Asian Development Bank (ADB) to arrange a fresh 22-billion-baht loan to build the Monsoon Wind project in Laos into an electricity-generating facility with the largest capacity in Southeast Asia.

 The 600-megawatt wind farm is projected to be a “bankable project,” according to the developers. It will be crucial in attempts to reduce carbon dioxide emissions from fossil fuels on a worldwide scale.

BCPG’s green power projects have received funding from the Asian Development Bank (ADB), including the company’s first wind farm with an energy storage system in Thailand.

Multilateral development banks, as well as Thai and international commercial banks, expressed interest in the Monsoon Wind project.

The new wind farm is slated to be built in southern Laos, in the provinces of Sekong and Attapeu.

Over its lifetime, the plant is estimated to reduce 35 million tonnes of greenhouse gas emissions, assisting the UN in achieving its net-zero goal, which is a balance between greenhouse gas emissions and absorption.

The Monsoon Wind is also designed at boosting regional economic growth and reinforcing Laos’ status as Asia’s battery.

Impact Energy Asia Development Co (IEAD), a joint venture between BCPG and Impact Wind Investment Co, has agreed to supply electricity from Laos to Da Nang, Vietnam, under a power purchase deal with state-run Vietnam Electricity.

Monsoon Wind construction will begin in the second half of next year, with commercial operations expected by 2025.

BCPG’s third wind project is Monsoon Wind. The company had previously purchased a 40 percent stake in PetroWind Energy Inc, the operator of the 20MW Nabas wind farm in the Philippines.

Under a collaborative development with the state-run National Science and Technology Development Agency, BCPG also operates the 9MW Lom Ligor wind farm in Nakhon Si Thammarat’s Pak Phanang district.