EXIM Thailand Provides Financial Facility to Thai Luxe Enterprises Plc. Pioneering Geothermal Power Plant Business in Japan

Stocks and Financial Services Press Releases Tuesday November 14, 2017 11:13
Bangkok--14 Nov--EXIM BANK

EXIM Thailand signed a financial facility agreement worth 2,205 million yen or approximately 661.50 million baht with Thai Luxe Enterprises Plc. to support the company's investment in eight geothermal power plant projects with a total capacity of 1,000 kW on Kyushu island of Japan.

Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), and Dr. Pongrak Chindasombatcharoen, Chairman of Executive Committee of Thai Luxe Enterprises Plc. (TLUXE), and General Chaowarit Prapajit, Chief Executive Officer of TLUXE, jointly signed a financial facility agreement worth 2,205 million yen, equivalent to around 661.50 million baht, at EXIM Thailand's Head Office to finance TLUXE's investment in eight geothermal power plant projects with a total generating capacity of 1,000 kW or equivalent to solar power plant with installed capacity of 8 MW in Beppu, Oita Prefecture, which is Japan's largest source of hot springs. The company has planned power sales to Kyushu Electric Power Company at a tariff rate of 40 yen/unit over a 15-year term.

EXIM Thailand President said EXIM Thailand is ready to render financial support to Thai entrepreneurs investing overseas, especially in new types of power business. TLUXE is the first Thai enterprise to engage in geothermal power plant business in Japan, using geothermal heat to generate electricity 24 hours a day. This is in line with Japanese government's policy to promote the use of renewable energy sources to secure supply of energy appropriate for the country's economic and social environment.

""EXIM Thailand's support of TLUXE's geothermal power plants in Japan will not only serve as a prototype for other Thai entrepreneurs' future endeavors in this area, but also allow for Thai entrepreneurs' access to renewable power production technology and know-how. This will also further both countries' sustainable economic and social development, in line with EXIM Thailand's main mission and policy to develop its financial facilities in response to Thai entrepreneurs' needs in their international trade and investment of the new era,"" added Mr. Pisit.


Latest Press Release

KTC invites members to enjoy shopping with worthwhileness and special privileges at Osaka Japan.

Miss Sudchavee Banjobdee, Senior Manager – Credit Card Business, "KTC" or Krungthai Card Public Company Limited,jointly with Miss Tharinee Wongwattanun, Senior Marketing Manager, JCB International (Thailand) Company Limited, invite KTC JCB PLATINUM...

New Accenture Study Forecasts End to #Lucrative Inefficiencies for $1 Trillion Capital Markets Industry as It Adapts to the Digital Age

Wealth and asset managers generate most of the industry's profits but struggle to find scale efficiencies and are highly exposed to squeeze scenarios A new study from Accenture (NYSE: ACN) shows how the capital markets industry can wring out historical...

UMITRON secures US$2 million project funding from the Inter-American Development Bank to deliver IoT and AI technology to drive growth of sustainable aquaculture in Lake Titicaca, Peru

UMITRON PTE.LTD. (Singapore, Co-founder/Managing Director, Masahiko Yamada) in cooperation with Abaco (Cooperativa de Ahorro y Credito) and its subsidiary Piscis (Piscifactorias de los Andes) has been approved for US$2 million project funding to improve...

Photo Release: KBank wins Best Private Bank in Thailand 2018 award on the global stage

Mr. Jirawat Supornpaibul, Private Banking Group Head, recently represented KBank to receive the "Best Private Bank in Thailand 2018" award at the PWM/The Banker Global Private Banking Awards, organized by The Banker Magazine. It is the 24th best private...

Fitch Affirms BAFS at #A+(tha)#; Maintains Negative Outlook

Fitch Ratings (Thailand) Limited has affirmed Bangkok Aviation Fuel Services Public Company Limited's (BAFS) National Long-Term Rating at 'A+(tha)' and maintained Negative Outlook. Fitch has also affirmed BAFS's National Short-Term Rating at...

Related Topics