Thai IPP Constant Energy raises $15 million as loan from GCPF

Thailand’s independent power producer Constant Energy has raised $15 million as a long-term senior secured loan from Switzerland-based investment firm Global Climate Partnership Fund (GCPF). Constant Energy develops, builds and owns solar rooftop and ground-mounted projects focused on delivering energy solutions to commercial and industrial customers. This long-term senior loan will allow Constant Energy to finance the currently operating projects and the project pipeline in the coming year. With this long-term loan, GCPF has become Constant Energy’s first commercial lender, which enables it to expand further across Southeast Asia. In a separate development, in January 2020, Constant Energy received an undisclosed investment from private equity (PE) firm Olympus Capital Asia through its clean energy and sustainability platform, Asia Environmental Partners.

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