{"id":154055,"date":"2018-02-24T00:26:51","date_gmt":"2018-02-24T05:26:51","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=154055"},"modified":"2018-02-24T00:26:51","modified_gmt":"2018-02-24T05:26:51","slug":"adb-okays-usd235-m-loan-for-renewable-energy-projects-in-asean","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/02\/24\/adb-okays-usd235-m-loan-for-renewable-energy-projects-in-asean\/","title":{"rendered":"ADB okays USD235-M loan for renewable energy projects in ASEAN"},"content":{"rendered":"<figure id=\"attachment_154056\" aria-describedby=\"caption-attachment-154056\" style=\"width: 960px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/02\/ADB.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-154056\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/02\/ADB.jpg\" alt=\"The Asian Development Bank (ADB) on Friday signed a loan agreement of up USD235 million with a Thai firm to develop and enhance renewable energy in the Philippines and other countries of the Association of Southeast Asian Nations (ASEAN). (Photo: Asian Development Bank - ADB\/Facebook)\" width=\"960\" height=\"540\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/02\/ADB.jpg 960w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/02\/ADB-300x169.jpg 300w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2018\/02\/ADB-768x432.jpg 768w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/a><figcaption id=\"caption-attachment-154056\" class=\"wp-caption-text\">The Asian Development Bank (ADB) on Friday signed a loan agreement of up USD235 million with a Thai firm to develop and enhance renewable energy in the Philippines and other countries of the Association of Southeast Asian Nations (ASEAN). (<a href=\"https:\/\/www.facebook.com\/AsianDevBank\/photos\/a.10150617969465963.381276.353576190962\/10154560293680963\/?type=1&amp;theater\">Photo<\/a>: <a href=\"https:\/\/www.facebook.com\/AsianDevBank\/\">Asian Development Bank &#8211; ADB\/Facebook<\/a>)<\/figcaption><\/figure>\n<p>MANILA &#8212; The Asian Development Bank (ADB) on Friday signed a loan agreement of up USD235 million with a Thai firm to develop and enhance renewable energy in the Philippines and other countries of the Association of Southeast Asian Nations (ASEAN).<\/p>\n<p>ADB\u2019s financing will support B. Grimm Power Public Company Limited\u2019s implementation (B. Grimm Power) of the ASEAN Distributed Power Project, which will expand renewable and distributed power generation into new markets in the region, also including Cambodia, Indonesia, Lao People\u2019s Democratic Republic, Myanmar and Vietnam.<\/p>\n<p>The project will involve the execution and operation of distributed and utility-scale solar, wind, biomass, waste-to-energy, gas-fired power, energy storage, as well as associated infrastructure in ASEAN countries.<\/p>\n<p>\u201cThe development of renewable energy in Southeast Asia is critical to meet its energy needs and B. Grimm Power is at the forefront of the region\u2019s fast growing alternative energy sector,\u201d Michael Barrow, Director General of ADB\u2019s Private Sector Operation\u2019s Department, said in a statement.<\/p>\n<p>\u201cADB is proud to once again partner with B. Grimm Power as it continues its expansion strategy in ASEAN member countries,\u201d said Barrow.<\/p>\n<p>B. Grimm Power\u2019s total distributed power generation capacity is expected to increase by over 50 percent to 2,500 megawatts (MW) by 2022, while the renewable energy share in its portfolio will rise from 10 percent to 30 percent.<\/p>\n<p>The energy company, a subsidiary of Thailand\u2019s 140-year-old conglomerate B. Grimm Group, currently has a total capacity of 1,779 MW, operating 13 gas-fired plants, with four more under development or construction.<\/p>\n<p>In recent years, it has diversified into renewable energy and is operating 15 solar power plants and two hydro power plants.<\/p>\n<p>ADB took a 1,968 million Thai Baht (USD57.7 million) equity stake in B. Grimm Power as part of the company\u2019s initial public offering in July 2017.<em><strong>\u00a0<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA &#8212; The Asian Development Bank (ADB) on Friday signed a loan agreement of up USD235 million with a Thai &hellip;<\/p>\n","protected":false},"author":33,"featured_media":154056,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[595,15885,4200],"class_list":["post-154055","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-asean","tag-asian-development-bank","tag-energy-projects","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/154055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=154055"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/154055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/154056"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=154055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=154055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=154055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}