ADB, BGRIM reaffirm long-term partnership with green loan for VN’s largest solar venture

B.Grimm Power Plc (BGRIM), Thailand’s leading industrial power producer, has signed a US$186 million syndicated loan with a group of lenders including Asian Development Bank (ADB) to support the single largest solar farm project in Vietnam.

The syndicated financing for the 257-megawatt (MW) solar power scheme in Phu Yen Province represents the first green loan in Asia and the Pacific to be certified by the Climate Bonds Initiative, part of an independent global environmental movement.

The financing has in particular further cemented the long-term partnership between BGRIM and ADB which is one of the major financiers of the Phu Yen scheme.

It also underscores ADB's confidence in the growth potential of BGRIM as an emerging major private power investor in Southeast Asia.

ADB has extended a $27.9 million to Phu Yen TTP Joint Stock Company (Phu Yen JSC), the sponsor of the solar power project in which BGRIM has a 80% stake and Truong Thanh Viet Nam Group Joint Stock Company (TTVN) holding a 20% interest.

The group of commercial banks which agreed to provide a total of $148.8 million to the project includes Bangkok Bank, Kasikorn Bank, Kiatnakin Bank, Industrial and Commercial Bank of China (ICBC) from China and Standard Chartered Bank.

The other lender is the Leading Asia’s Private Infrastructure Fund (LEAP) which contributed a $9.3 million financing.

The Phu Yen financing has so far become one of the largest such loans yet mobilised in Vietnam.

BGRIM Chairman Harald Link said the loan accord marks another successful milestone of the company which is pleased and grateful to all lenders for the financial supports.

The Phu Yet solar farm has already started supplying electricity to the Electricity of Vietnam (EVN) under a 20-year contract at a Feed-in-Tariff (FiT) of 9.35 US cent per kilowatt-hour.

That means the project has begun to generate revenue to BGRIM and its Vietnamese partner.

The Phu Yen project serves as a catalyst to promote the use of renewable energy in the socialist republic as well as driving the country's economic growth, Dr Link stated.

Preeyanart Soontornwata, Chief Executive Officer of BGRIM, said the green loan showed that the company has once again pioneered a new form of financial innovation that focuses on the development of clean energy.

BGRIM earlier launched Thailand's first green bond issue in association with ADB.

The green loan which was concluded this time reflects BGRIM’s adoption of the best global practice to support sustainable energy development in Vietnam.

Yet it helps fostering a green loan market and promoting green transactions which are in line with BGRIM's sustainability policy in conducting business according to international standards, she noted.

Jackie B. Surtani, Infrastructure Finance Division Director for East Asia, Southeast Asia, and the Pacific at ADB's Private Sector Operations Department, said: “ADB is committed to supporting BGRIM, one of our most valued clients, with its long-term expansion into Vietnam and its important work in renewable energy. We’re also excited to work for the first time with TTVN.

This project will support the rapid development of solar power capacity in Viet Nam, advance the country’s low-carbon growth goals, and, we hope, catalyze further commercial bank financing for renewable energy.”

The Phu Yen solar energy project is the largest in Vietnam and one of the largest power plants in Southeast Asia. The facility will save 123,000 tonnes of carbon dioxide per year and the power plant will support the electricity needs of Quang Ngai and Nha Trang as well as the surrounding areas in the region, one of Vietnam's major tourism hubs.

‘Grand Seiko’ Exhibition organized to mark 60th Anniversary Display of rare historic timepieces for the first time in Thailand October 15-31, 2020 at G Floor, Gaysorn Village

“Grand Seiko”, the world’s leading watch brand, led by Hiroyuki Akashi Managing Director of Seiko (Thailand) Company Limited, is organizing a special exhibition to celebrate the brand’s 60th anniversary by putting on display rare historic timepieces meticulously chosen from Seiko Museum to showcase the aesthetics of the radiance of quality which is the traditional hallmark of “Grand Seiko”, from the first iconic watch was created in 1960, all the way to the highly noteworthy timepieces of today that have become the brand’s legend.

The exhibition is set under “The Nature of Time” concept presented through the ambience of the Land of the Rising Sun ablaze with breathtaking natural scenery, and Kabuki, the classical Japanese dance-drama. The event will be graced by celebrities and famous watch collectors who are enthusiastic to admire the masterpiece watches. VIP attendants include Mr. Pravi Techasith and Mr. Khunayut Dejudom.

The Grand Seiko 60th Anniversary Exhibition is taking place from today until October 31st 2020.

The Grand Seiko 60th Anniversary Exhibition is set under the atmosphere of ancient Japan that perfectly reflects the tradition and culture of the country to celebrate and extoll the long history of “Grand Seiko”, Japan’s leading watch brand. At the same time, the masterpiece creations from Seiko Museum in Japan will be displayed in all their glory to awe and vow die-hard Grand Seiko aficionados.

The highlight of the exhibition that everyone has been waiting to see with bated breath is The First Grand Seiko, the very first masterpiece fabricated on December 18th, 1960, at the first Grand Seiko studio in the town of Suwa in central Japan. The Seiko team has been laboring with determination to constantly develop and create the timepiece that can ultimately fulfill the demand for accuracy, durability, comfort and beauty as much as human can devise with the case sculpted from 14K gold and the extra thin movement with the accuracy recognized as being on par with the highest international chronological standards.

Another notable timepiece that has become a legend that later inspired the creation of subsequent Grand Seiko watches – the 44GS model developed in 1967 that later became the prototype for the Grand Seiko style with the polished case and its exquisitely perfect two-dimensional curves. Also prominent are the hands and the large, smooth hour markers complimenting the polished corners that reflect lights beautifully. The surface of the case is highly brushed with absolutely no refraction – indicating the highest accuracy in every step of production.

Another famous watch is the Grand Seiko 62GS introduced in 1967 which was the first watch with automatic movement that incorporated new technologies. This watch’s accuracy has captivated the world’s imagination with the multi-faceted case designed with the wide-open dial design and slim edge combined with Zaratsu brushing to chamfer the edge for smooth appearance and to avoid scraping the skin. This is one of the special Grand Seiko features, that included the repositioning of the winding crown to the 4 o’clock position to signify that manual winding is unnecessary.

Then there is the SBGH005 model that is housed in the 44GS case and launched in 2014. The design is distinctive with stainless steel case and green dial in Iwata pattern which when exposed to light beautiful lines would appear. This model features the first Hi-Beat movement with GMT function with 9S85 movement pulsing at 36,000 bph producing high accuracy. The SBGH005 was awarded the Petite Aiguille Prize at the prestigious Foundation of the Grand Prix d'Horlogerie de Genève (GPHG) in Switzerland.

Last but not least is a masterpiece SBGC017, a stylish sport watch with Spring Drive movement. This is the first watch with a ceramic shield inspired by a samurai’s armor designed to encase the high-intensity titanium case. Although this model at first seems to be on the large side, it is light-weight and comfortable to wear. It is installed with the 9R96 automatic caliber. The green dial is decorated with momi tree pattern complimented by classical leather strap.

Each of the “Grand Seiko” timepieces projects the extra-special “Radiance of Quality” from the past until the presence with unrelenting quality development in regard to high accuracy, case materials, or even the meticulous chamfering to produce captivating lights and shadows – all a result of attention to details by master craftsmen, including advanced designs that somehow also encapsulate the classical Japanese essence. No doubt, a Grand Seiko is the best watch in terms of high efficiency and timeless beauty that also fulfills all the needs and wants of its proud owners. 

To celebrate the 60th anniversary of the determination to create and develop timepieces that possess distinctive characteristics in Grand Seiko of the present, as well as to extoll the creativity and the long history of the Grand Seiko brand, Special Edition watches inspired by legendary masterpieces such as the first Grand Seiko of 1960 will be on display for watch aficionados and true Grand Seiko fans to admire and to take ownership so as to become an integral part of this fabled brand that has combined innovations, identity and spirit into these three Special Edition models – SBGW257, SBGW258 and SBGW259 that bear minimal weights although the dial size have been enlarged from 35 to 38 millimeters for more modern appearance. The shape of the cases and crystals are gently curvaceous while the 9S64 movement is still considered to be highly accurate. The hands retain their classical shapes while the case back windows are made of sapphire glass to reveal the beautiful movements that have been meticulously designed.

The new PBT product range Pocan XHR is proving a practical all-rounder

High hydrolysis resistance with plenty of extras

• Benefits for thermal shock stresses
• Excellent long-term temperature stability; high elongation at break
• Improved chemical resistance for use in suspension applications, for example
• Flame-retardant variants added to XHR product range

One of the potential applications of Pocan XHR is housings for automatic parking brakes. 

Photo: LANXESS AG

Thailand, 12 October 2020 – The new Pocan XHR (Xtreme Hydrolysis-Resistant) product range from LANXESS boasts outstanding resistance to hydrolytic degradation in very hot and humid conditions. In internal testing with standardized test specimens based on the stringent SAE/USCAR2 Rev. 6 long-term hydrolysis tests of the US Society of Automotive Engineers (SAE), the compounds reached Class 4 or Class 5 – the top two ratings. “However, the launch of Pocan XHR has demonstrated that the additional benefits of the materials are just as important to many users. They often make the most of the high resistance to thermal shock, hot air, and chemicals, as well as the mechanical properties of the compounds based on polybutylene terephthalate (PBT),” explains Ralf Heinen, application developer at the High Performance Materials business unit. 

Even after 3,000 hours of hot air ageing at 150 °C, the Charpy impact strength of Pocan B3233XHR remains more or less unchanged (PBT GF30 = standard compound, B3233HR = 2nd generation HR; B3233XHR = 3rd generation HR). 

Photo: LANXESS AG

Stable in hot and dry conditions

Many electrical and electronic devices are exposed to ever-higher thermal loads for reasons including confined installation spaces or elevated operating temperatures. When used in dry environments, the plastics for these devices need to be able to withstand long periods in hot air. “That is another strength of Pocan XHR. For example, the impact strength of most product types in the XHR series remains virtually unchanged even after 3,000 hours of being stored in 150° Celsius air,” says Heinen. This makes the compounds ideal for parts in engine compartments, such as connectors, or for power electronics components.

Tailor-made for overmolding of metal parts

Rapid and extreme changes in temperature often cause stress cracks in components with overmolded metal areas because of the differences between metal and plastic in terms of thermal expansion. That is why LANXESS has given the Pocan XHR series elongation at break of up to 4.7 percent (ISO 527-1,-2) because high elongation at break counteracts the formation of stress cracks. Moreover, the improved long-term temperature stability and hydrolysis resistance reduce susceptibility to stress cracks. Stress crack resistance is tested under extremely harsh conditions in heat shock tests. This involves subjecting the overmolded components to abrupt changes in temperature from -40° Celsius to 125° Celsius and back in several hundred cycles and keeping them at the various temperatures for extended periods (such as 30 minutes). As Heinen explains, “In heat shock tests, components with Pocan XHR metal overmolding exhibit no stress cracks or, if they do, the cracks do not appear until after many multiples of the usual number of test cycles.” That makes the XHR products exceptionally well suited to overmolding metal parts such as bus bars, connectors, power strips and main supporting frames.

Good processing characteristics

The melt viscosity of all Pocan XHR variants remains constant for a long time at the injection-molding temperatures customary for PBT. The materials can therefore be injection molded stably within a wide processing window. The improved flowability relative to comparable standard PBT materials makes it possible to implement thin-walled geometries. Furthermore, overmolding of metal parts can take place at lower filling pressures, which means that the metal inserts are not distorted or pushed out of position in the tool by the molten material.

Improved alkaline stability

Standard PBT already has good chemical resistance, and Pocan XHR has taken that a step further. For example, it offers good resistance even to very strong alkalis. This reduces elongation at break only by around 40 percent when the material is stored at
55° Celsius in 1-molar sodium hydroxide solution for 100 hours. That is a marked improvement over standard PBT. On vehicle underbodies in particular, a combination of road salt, cast iron, and moisture can cause a mildly alkaline environment to build up. “Our XHR compounds are therefore the material of choice in this application for electrical and electronic components such as sensors, housings and connectors,” explains Heinen.

Flame-retardant XHR compounds soon to be launched

In response to requests from customers, LANXESS is currently adding more flame-retardant compounds to the XHR product range. They are particularly well suited to live components in hot and humid conditions, which have to exhibit excellent hydrolysis stability and fire resistance at the same time. The flame-retardant compounds are reinforced with glass fibers (15, 25, and 30 percent by weight). An unreinforced version of the product will also be available. All materials are equipped with a halogenated flame-retardant package and achieve the top classification of V-0 with low specimen thicknesses according to flammability tests in line with US standard UL 94 (Underwriters Laboratories Inc.). “This classification is required for many plastic components in batteries of electric and hybrid vehicles, for example,” says Heinen.

Pocan XHR acts as a complement to Pocan HR

Pocan XHR is the third generation of hydrolysis-stabilized PBT compounds from LANXESS. It complements the second material generation of Pocan HR. “This is held in high regard by our customers. It remains part of our range because it is an established feature of many series-production applications, and, because of its hydrolysis resistance and other properties, it already covers most common requirements,” says Heinen.

LANXESS is a leading specialty chemicals company with sales of EUR 6.8 billion in 2019. The company currently has about 14,300 employees in 33 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World and Europe) and FTSE4Good.

TAT invites Thais to join “Visit Thailand, I Miss You” campaign and win prizes over 10 million baht

The Tourism Authority of Thailand (TAT) is inviting Thai travelers to join the campaign under the concept called “Visit Thailand, I Miss You” and get a chance to win prizes over 10 million baht. Following the launch of this exclusive campaign to entice travel lovers, TAT hopes that travel demand will again be strongly stimulated in this last quarter of the year. The travelers may take part in a prize drawing with a purchase of a product or service labeled under the official “I Miss You” sub-campaigns: “I Miss My Golf Buddies”, “I Miss My Favorite Dishes”, “I Miss Embracing Nature”, “I Miss Relaxing My Body & Mind” and “I Miss Travel Communities”. Furthermore, TAT has partnered with more than 300 shops and service providers such as Klook, Traveligo, Wongnai, Golfdigg, McDonald’s, Thai Smile Airways, Air Asia, Thailandfoodparadise and Specialtiewthai to bring forth myriad mouth-watering promotions. 

Now that you’ve been told, get cracking, pack your bag and buy a travel package to get lucky! Prizes with a total pool of 10 million baht, which include cars, motorcycles, mobile phones, gold, and many more, are up for grabs for any purchase of promotional products or services. For every 500 baht spent per 1 receipt, you will receive 1 entry in the prize drawing (i.e., buying a 10,000-baht travel package will earn you 20 entries). To participate in the prize drawing, a coupon code is required to be redeemed via LINE Official Account: @tiewthailucky or associated websites from 15th September to 15th November 2020. Winners will be announced 20th November 2020 on www.เที่ยวไทยได้ลุ้น.com, Facebook: เที่ยวไทยได้ลุ้น and LINE Official Account: @tiewthailucky.

Don’t miss out on these extraordinary promotions. First come, first served! Don’t also forget to redeem your coupon code from any travel package purchase via one of the available platforms for your chance to win prizes worth up to 10 million baht. Who knows? You might very well be the lucky one!