CATERPILLAR lends funds to Asia biogas for waste-to-power plant

Thursday 08 May 2014

A Caterpillar Inc. investment unit agreed to provide a loan to Asia Biogas Group for the construction of a waste-to-power plant in Thailand.

Caterpillar Financial Services Corp., a unit of the world’s largest maker of mining and construction equipment, will help fund building work that’s already started on the 2.2-megawatt operation in Krabi, southern Thailand, Asia Biogas said in a statement without giving the size of the loan.

The plant is expected to start operating in January, with power sold to the Provincial Electricity Authority, it said.

“Closing a non-recourse deal is always a difficult process, even more so in this case as it’s one of the first of its kind in Southeast Asia,” Chief Executive Officer Desmond Godson said in the statement. “We now have a set of documents available for a number of follow-on projects in our pipeline.”

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