DBS Bank (Hong Kong) Limited has announced the successful closing of a USD300 million sustainability-linked revolving loan (SLL) facility for SPIC International Finance (Hong Kong) Company Limited and the offshore subsidiaries of the State Power Investment Corporation Limited (SPI Group). This facility will provide general corporate funding and working capital for SPI Group to achieve its sustainability performance target concerning overseas renewable energy capacity.
The transaction underscores DBS’ commitment to supporting the energy sector’s transition towards a low-carbon future through sustainable financing. As one of the world’s largest renewable power generation enterprises, SPI Group strives towards low-carbon development and supports countries and regions of the “Belt and Road” Initiative in increasing their installed capacity of green energy.
DBS’ SLL facilities are designed to offer timely and flexible financing to support SPI Group’s priorities in renewable energy projects. The bank is committed to enabling energy transition in Asia and continues to scale up SLLs to support companies in setting emission reduction targets. DBS Hong Kong actively integrates sustainable concepts into its products and services, promoting green finance through investment support, fund allocation, risk management, and advisory services.
The successful conclusion of this SLL cooperation with DBS Bank Hong Kong will effectively support the implementation of SPI Group’s overseas clean energy strategy and foster sustainable development collaboratively. The financing will be used to advance the construction of wind power, photovoltaic, and energy storage projects in countries and regions along the “Belt and Road” initiative, further expanding its green energy installed capacity.
DBS is a leading financial services group in Asia with a presence in 19 markets. The bank has been recognized for its global leadership and has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney, and “Global Bank of the Year” by The Banker. DBS provides a full range of services in consumer, SME, and corporate banking and is committed to building lasting relationships with customers.
The bank’s commitment to sustainable finance is evident in its efforts to promote green finance and support companies in achieving their sustainability objectives. The partnership between DBS and SPI Group is a significant step towards promoting sustainable development and supporting the energy sector’s transition towards a low-carbon future. With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities and is dedicated to creating impact beyond banking by uplifting lives and livelihoods of those in need.