News

IFC and CIF Fund Solar Plants in Thailand

7 October 2011: The International Finance Corporation (IFC), a member of the World Bank Group, and the Clean Technology Fund (CTF), part of the Climate Investment Funds (CIF) will finance the development of two solar power plants in Thailand by providing a US$8 million dollar loan and a US$4 million dollar grant.

By supporting the development of these two 6 megawatt solar power plants, IFC and CTF promote renewable energy and help create jobs in rural areas. The funding from IFC is also expected to foster private sector investment in renewable energy in Thailand. Overall, the IFC loans support the Thailand government's low-carbon development goal of generating at least 20 percent of energy from renewable sources by 2022. [IFC Press Release]