EXIM Bank has signed an agreement with Energy Absolute Public Company Limited (EA) on offering a loan for EA’s project to establish a battery factory in Chachoengsao province.
Attending the signing ceremony were EXIM Bank President Rak Vorrakitpokatorn and EA Deputy CEO Amorn Sapthaweekul.
The MOU pertains to a Sustainability Linked Loan (SLL) worth 500 million baht being provided by EXIM Bank, aimed at supporting EA’s battery production in Chachoengsao’s Bang Pakong district. The funding will increase production capacity from the current 1 gigawatt per hour to 4 gigawatts per hour.
This financial support aligns with EXIM Bank’s initiative to promote sustainable business practices for EA, focusing on Environmental, Social, and Governance aspects. The initiative encompasses businesses related to renewable and clean energy, including hydrogen refueling stations, electric vehicles, electric passenger boats, batteries and energy storage systems.
EA has now been listed in Thailand’s Sustainability Investment index for five consecutive years, corresponding to EXIM Bank’s commitment to becoming a ’Green Development Bank’. The bank aims to achieve Carbon Neutral Organization status by the year 2030.
EXIM Bank’s partnership with Energy Absolute is expected to accelerate Thailand’s journey toward carbon neutrality and achieving net-zero emissions, thus contributing to the nation’s sustainable development. (NNT)
