Photo by Pep Stojanovski via Unsplash.
DBS grants $92m green loan for wind turbine farm project in China
The project will generate renewable energy to power 90,000 households.
DBS has granted a S$92m (RMB500m) green loan facility to Envision Energy to develop a 100-megawatt wind turbine farm in Henan, China.
The project is expected to generate about 270 gigawatt hours of renewable energy, enough to power 90,000 households. It will also avoid 212,600 tonnes of carbon emissions annually, the Singapore-headquartered bank said in a press release.
The loan will be issued under the People's Bank of China’s (PBOC) Carbon Emission Reduction Facility.
This represents the first successful transaction in this programme by a Southeast Asian bank, DBS said.
DBS China served as the sole green finance advisor for the loan, which complies with the China-EU Common Ground Taxonomy.
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