Export Finance Australia boosts renewable energy investment in Thailand
Export Finance Australia (EFA) is providing a US$50 million loan to support the development of new solar and battery storage projects in Thailand, strengthening Australia’s support for the region’s clean energy transition.
Media release
09 February 2026
Export Finance Australia (EFA) is providing a US$50 million loan to support the development of new solar and battery storage projects in Thailand, strengthening Australia’s support for the region’s clean energy transition.
The loan forms part of a US$350 million facility for Gulf Renewable Energy Company Limited, a subsidiary of Gulf Development Public Company Limited (GULF), supporting two solar-plus-battery projects and one solar project. It follows EFA’s US$79 million loan provided to GULF last year to develop 12 other renewable energy projects.
The facility was arranged alongside trusted international partners including the Asian Development Bank, FinDev Canada, DEG, Japan International Cooperation Agency and DBS, reflecting strong collaboration among development and commercial financiers to accelerate renewable energy deployment in Southeast Asia.
Together, the investments demonstrate EFA’s expanding support for clean energy infrastructure across the region and its strong partnership with one of Thailand’s leading power producers.
Mr John Hopkins, Managing Director & CEO of Export Finance Australia, said:
“We are pleased to deepen our collaboration with GULF as it continues to invest in large-scale renewable energy in Thailand. This financing highlights our commitment to backing commercially viable projects that advance the region’s energy transition.
“The transaction also aligns with the Australian Government’s priorities under Invested: Australia’s Southeast Asia Economic Strategy to 2040 and the Strategic Economic Cooperation Arrangement with Thailand, which identify clean energy and sustainable infrastructure as priority areas for deeper economic engagement.”
Ms Yupapin Wangviwat, Chief Financial Officer of GULF Group, said:
“We value EFA’s continued support as GULF expands its renewable energy portfolio. Financing from EFA and other development partners plays a key role in enabling solar and battery storage projects that strengthen Thailand’s future energy system and support our long-term decarbonisation goals.”
Media contact: Eleanor Brophy, +61 400 806 103, media@exportfinance.gov.au
About Export Finance Australia
EFA is Australia’s export credit agency. EFA provides commercial finance for export trade and overseas investment and infrastructure development. From small and medium-sized enterprises to large corporates, foreign governments and infrastructure projects, it helps Australian businesses take on the world. In doing so, EFA’s finance supports Australia’s economic security and regional resilience.
EFA administers the Australian Government’s National Interest Account, which currently includes the Southeast Asia Investment Financing Facility, the Critical Minerals Facility, the Defence Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific. EFA also provides support to other Commonwealth entities, including Housing Australia and the Northern Australia Infrastructure Facility.
