Asian Development Bank, a Philippines-based multilateral development bank, has signed a $350 million loan. The agreement was executed with Gulf Renewable Energy Company Limited to expand Thailand’s renewable energy generation capacity. The financing will support two solar-plus-BESS totaling 126 MW and 151 MWh. It will also fund construction of a separate 68 MW solar power plant. ADB was the sole mandated lead arranger and bookrunner for the transaction. The bank has provided $75 million from its ordinary capital resources. It has structured a $50 million B-loan from DBS Bank Ltd. The financing package also included $150 million in parallel loans and $75 million from LEAP 2. Once operational, the Thailand projects are expected to reduce 191,550 tons of CO2 annually.