US international development vehicle the Overseas Private Investment Corporation (OPIC) has approved $250 in financing to support the development of 51 solar plants in Thailand.
The capital will be allocated to SunEdison’s Thai subsidiary that will install photovoltaic (PV) facilities with a combined capacity of 520MW.
Elizabeth Littlefield, OPIC president and CEO, said, ‘We are proud to be supporting Thailand’s goals of shifting to clean, renewable sources of power. This project allows SunEdison to develop a pipeline of solar projects in Thailand that would otherwise require significantly more resources for OPIC to implement on a project-by-project basis.’
Last month, OPIC allocated $310m to double the capacity of a geothermal power plant in Kenya. The work will be carried out by US company OrPower 4 and will add 52MW to the Olkaria plant near the Kenyan capital Nairobi.
Earlier this week, SunEdison secured a new credit line worth $300m that it said will be used to support the construction costs of a pipeline of utility and rooftop solar developments in the US and Canada.
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