Thai coal leader Banpu boosts EV shift with $67m ADB loan

BANGKOK -- Banpu, Thailand's biggest coal miner, has signed a 2.4 billion baht ($67 million) loan agreement with the Asian Development Bank as it urgently seeks to shift from reliance on coal and expand electric vehicle operations.

"We would like to thank you ADB for supporting our commitment. Our shared determination to build sustainable energy is aligned, and this collaboration will expedite our efforts and create a better living for all," Banpu CEO Somruedee Chaimongkol said in a statement Monday.