Verdant lands €22 million loan to build solar in Thailand
What's the deal? Singapore-based renewable energy developer Verdant EnergyDealroom has a profile for this one. Try Dealroom → has raised €22 million ($25 million) in debt financing to fund construction of commercial and industrial (C&I) solar parks in Thailand. The non-recourse loan came from Swiss impact asset manager responsAbility InvestmentsDealroom has a profile for this one. Try Dealroom →, drawn from its $500 million Climate Investment Strategy for Asia.
What's the endgame? Verdant, backed by AP Moller CapitalDealroom has a profile for this one. Try Dealroom →, develops and invests in renewable projects across Thailand, Vietnam, and the Philippines. The capital will let it develop, build, and operate more Thai photovoltaic parks and expand its platform across Asia Pacific. It aims to reach more than 1.5GW of installed capacity within five years.
Why now? The loan lands just a month after Verdant merged with British developer Aura PowerDealroom has a profile for this one. Try Dealroom →, creating a UK independent power producer with a 10GW development pipeline. The fresh debt supports that rapid expansion.
What they said: "This facility enhances our ability to efficiently finance bankable projects while maintaining the disciplined investment and risk management principles that underpin our growth strategy," said chief executive officer Alan Yau.
The signal: The quick re-raise reflects mounting investor appetite for C&I solar in Southeast Asia, where corporate demand for clean power is rising. For Verdant, stacking debt so soon after a major merger signals confidence in its ability to scale bankable projects fast.
Read more: renewablesnow.com
Image credit: Black Rock Solar
