August 20, 2025

Constant Energy Partners with KASIKORNBANK, One of Thailand’s Largest Financial Institutions, for THB 231 million Financing of Large-Scale Solar Rooftop Projects

Bangkok, 20 August 2025 – Constant Energy, a leading provider of renewable energy solutions in Asia, has entered a landmark partnership with KASIKORNBANK (KBank), a top-tier financial institution known for its strong presence in Thailand’s banking sector and its leadership in renewable energy financing. This collaboration includes a credit facility agreement with KBank for the THB 231 million refinancing of 13 operating industrial rooftop solar projects, totaling 13.7 megawatt-peak (MWp) capacity.

These projects, managed by Constant Energy and owned by its subsidiaries, supply clean energy to Fortune 500 companies in key industries, including food and beverage, electronics, and metallurgy.

The strategic benefits of the financing for Constant Energy include:

Enhanced Financial Efficiency: Lower financing costs, extended loan tenor, and improved leverage.
Currency Alignment: Matching revenue and debt in Thai Baht (THB) to reduce currency risk.
Strengthened Banking Relationships: Diversifying Constant Energy’s financial partnerships, including collaborations, whether with global or local lenders.

Franck Constant, CEO and founder of Constant Energy, commented:

“Over the last eight years, we have built a strong foundation in Southeast Asia that has allowed us to navigate the challenges of our pioneering industry. We’re glad to see the growing adoption of industrial solar rooftops in Thailand, supported by enabling and stable regulations. Rooftop solar is one of the most efficient ways to access green power, as it is generated onsite, where the demand is, without transmission risks or losses.

Thailand has, on a recurring basis, been the number one rooftop solar market in ASEAN, reflecting the country’s stable leadership in clean energy innovation. This loan will enable us to accelerate investments in key areas, drive our operations for years to come, and help Thai-based companies achieve their sustainability goals faster.”

Markus Ganterer, CFO and co-founder of Constant Energy, commented:

“This partnership reflects the confidence that leading financial institutions have in our business model, leadership, and vision for sustainable energy. We are grateful to have earned the trust and support of one of Thailand’s largest banks, which not only strengthens our financial backing but also enhances our ability to drive the country’s transition to a greener future.”

Mr. Obboon Vongsuriya, Senior Vice President of KASIKORNBANK, said:

“The rooftop solar projects currently financed under this agreement contribute to Thailand’s efforts to achieve its sustainability goals faster. These systems generate low-cost, reliable, and renewable energy, reducing Thailand’s dependence on imported fossil fuels while significantly cutting carbon emissions.”

KBank’s strategic support highlights the transformative potential of partnerships between financial institutions and renewable energy providers. Supported by legal expertise from Hunton Andrews Kurth (Thailand) Limited for both parties, this collaboration sets a benchmark for sustainable development in Asia, demonstrating how such alliances can deliver lasting economic and environmental benefits while contributing to a stable and sustainable future for the region.

[About Kasikorn Bank]

KASIKORNBANK Public Company Limited is a private banking group in Thailand and was established on 8 June 1945. It has been listed on the Stock Exchange of Thailand (SET) since 1976. It is the fourth largest commercial bank in Thailand as measured by total assets, loans, and deposits, with about 15% market share. The bank offers consumer banking, commercial banking, and corporate banking services, including cash management, international trade financing, lending, deposit-taking, supply chain financing, Bancassurance, FX and derivatives, investment banking, custodian services, asset management, credit card services, and mortgage lending.

[About Hunton Andrews Kurth]

For more than 120 years, Hunton Andrews Kurth has served clients across the globe with a collaborative and purposeful approach. With offices strategically located in the United States and around the world, the firm is known for its strength in the energy, financial services, real estate, and retail and consumer products industries, as well as its considerable depth across numerous practice areas. Hunton Andrews Kurth fosters a strong culture built upon an unwavering commitment to its clients, colleagues, and communities.

[About Constant Energy]

Constant Energy (“CE”) is a leading developer, owner, and operator of large-scale solar, wind, and battery storage projects across Asia. Founded in 2017, CE is an affiliate of Virya Energy Group, a global renewable energy platform operating in more than 15 countries across Europe and Asia, with a team of over 1,100 members worldwide. Specializing in the long-term development and management of high-quality renewable energy assets, Constant Energy has built a growing portfolio of over 210 MW of solar projects across Thailand, Malaysia, and Vietnam. Supported by Virya Energy’s strong financial backing and industry expertise, the company upholds the highest standards of environmental, social, and governance (ESG) performance, as reflected in its 5-star GRESB rating and gold rating from EcoVadis. The management team has over 30 years of experience in private power projects. Notably, in 2009, the team co-founded Sonnedix, a major solar IPP active in nine countries, which was successfully sold in 2017, with 350 MW acquired by a JP Morgan–advised fund.

More information can be found at https://constantenergy.net/