September 10, 2025

Constant Energy Secures THB 300 Million Green Financing from HSBC to Accelerate Renewable Energy Expansion in Thailand

Bangkok, Thailand – Constant Energy, a leading renewable energy solutions provider in Asia, secures THB 300 million green guarantee and standby documentary credit facility from HSBC to support expansion of large-scale solar and battery storage projects in Thailand.

Asia’s renewable energy sector continues to experience robust growth. According to the International Renewable Energy Agency (IRENA), the region added 328 GW of renewable energy capacity in 2023, increasing total generation by 20%—outpacing the global growth rate. Thailand, in particular, is targeting a significant increase in renewable energy, aiming to reach 51% of total power generation by 2037. As demand for power increases, Asia, including Thailand, will need to continue to accelerate its renewable energy investments to meet its climate commitments.

Governments throughout Asia are intensifying efforts to encourage investment in the renewable energy industry, both in support of climate goals and as a driver of sustainable economic development. The Thailand Board of Investment (BOI) also continues to offer compelling tax incentives for factories that invest in renewable energy, helping accelerate the return on investment for solar projects.

This is an excellent opportunity for Constant Energy to expand its renewable energy portfolio in Thailand, as there is growing demand among corporate clients and a national drive toward a sustainable future.

Mr. Franck Constant, CEO and founder of Constant Energy, said: “We are pleased to partner with HSBC to expand our solar projects in Thailand, including rooftop, ground-mounted, and floating systems. This green guarantee and Standby DC facility will help us accelerate our mission to provide clean, renewable energy for our clients, enabling them to reduce their carbon emissions and electricity costs. By doing so, we not only help our clients achieve their sustainability goals but also enable them to focus on their core business activities with greater efficiency and profitability. Additionally, we are proud to support Thailand in achieving carbon neutrality by 2050 and reaching net zero greenhouse gas emissions by 2065.”

Mr. Aditya Gahlaut, Head of Global Trade Solutions, Asia, HSBC, said: “We are honoured to be the banking partner of Constant Energy in their solar rooftop business expansion in Thailand.

This collaboration demonstrates our longstanding relationship with Constant Energy not only in Thailand, but also across Asia and Europe, where we serve as a key banking partner in Thailand, India, Singapore, Malaysia, and Belgium.”

This financing from HSBC reflects the continued confidence that leading international banks have in Constant Energy’s business model, operational track record, and long-term vision. With strong support from global financial institutions, Constant Energy is well-positioned to accelerate its renewable energy investments across Asia and deliver impactful, bankable solutions that drive the region’s clean energy transition.

The Hongkong and Shanghai Banking Corporation Limited

The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 57 countries and territories. With assets of US$3,214bn at 30 June 2025, HSBC is one of the world’s largest banking and financial services organisations.

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/