ICBC (Thai) provides Bt 402 million loan to Thai Biogas Energy Co (TBEC) for construction of two new biogas projects in Southern Thailand

In May 2014, the Industrial and Commercial Bank of China (Thai) provided a Bt 402 million loan to Thai Biogas Energy Co (TBEC) for the construction of two new biogas projects. The loan is guaranteed by GuarantCo. In addition to this initial guarantee, GuarantCo has in principle approved providing further guarantees to TBEC of about US$7 million (Bt230 million) equivalent, and is considering increasing that to about $17 million. The two projects convert the wastewater from agri-processing factories to generate biogas, which is supplied to the host factories to reduce their fuel costs substantially. The smaller project with a capacity of 2.8 megawatts is already under construction and is the first large-scale biogas project in Phang Nga. The second project is an expansion of the existing TBEC Tha Chang Biogas project with an additional 4.2MW. The two new projects will be located in the Southern region and will add 30 percent to TBEC’s capacity, to 35 million normal cubic meters of biogas per annum.

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