TMB Bank and Sindicatum Sustainable Resources today announced the signing of a USD 12m term-loan facility agreement with a 7-year maturity. This marks the third facility extended to Sindicatum by TMB Bank, bringing the total to USD 40m. The funding will be used for the construction of an 8 MW base load landfill gas to energy project in Nakhonpatom Province, near Bangkok, Thailand, the Crane Renewable Energy project (“Crane”).
Mr. Alexander Nondh Langfeldt , Executive Vice President said: “We are very pleased to have been able to finance the two existing projects, and we are proud to be providing support to another quality renewable energy project. The bank place high importance to the sector as it contributes to the sustainable development of the country. We are also keen to support Sindicatum, with other exciting projects.”
Assaad Razzouk, Chief Executive Officer of Sindicatum, said: “We are grateful to TMB Bank, to our local partners and to the communities where we operate, for their continuing strong support to our Thai clean energy projects. Thailand is on the front lines of suffering from climate change and we are passionate about our role in slowing emissions, while helping the country transition to an economy and lifestyles fuelled by a clean energy infrastructure.”
TMB Bank Plc. http://www.tmbbank.com/. One of the leading Thai commercial banks, with a presence since 1957 and total assets of USD 24 billion as of Q1 2014. Thai Ministry of Finance and ING Bank N.V. are the major shareholders, holding 26.1 per cent and 25.2 per cent respectively.
Press Contact: Monthon Jaruvanaporn, Team Head, Power Industry
T: +66 2242 3969
E: monthon.jar@tmbbank.com
Sindicatum is an award-winning developer, owner and operator of clean energy projects that reduce greenhouse gases and produce sustainable resources (clean energy, biogas, water and physical commodities) and environmental commodities. The company was founded in 2005 and operates 152 MW of clean energy projects in Asia with established business units in Bangkok, Jakarta, Manila, New Delhi, Singapore, Beijing and Taiyuan (Shanxi Province, China). To date, Sindicatum has committed more than US$400 million to greenhouse gas reduction and sustainability projects
Press contact: Michael Boardman, CFO
T: +65 6732 8897
E: michael.boardman@sindicatum.com
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