dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Social Links
  • zedreviews.com
  • citi.io
  • aster.cloud
  • liwaiwai.com
  • guzz.co.uk
  • atinatin.com
0 Likes
0 Followers
0 Subscribers
dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
  • Lah!

DBS Converts EUR 500 Million Guarantee Facility With Siemens Gamesa Renewable Energy To Green Facility

  • February 26, 2020
Total
0
Shares
0
0
0

DBS Bank (DBS) announced that it has converted to a green facility, its EUR 500 million bank guarantee issuance facility with Siemens Gamesa Renewable Energy (Siemens Gamesa). Siemens Gamesa is a leading global manufacturer of onshore and offshore wind turbines.

Under this green facility, Siemens Gamesa will be able to issue Green Guarantees to support their supply of equipment and services for wind energy projects internationally, with unique features that promote and assure higher standards of sustainable sourcing and deployment. This supports the United Nations Sustainable Development Goals (SDGs) relating to “affordable and clean energy” as well as “climate action”, and advances Siemens Gamesa and DBS’ commitments to sustainable development.

Terence Yong, Group Head, Western Multinationals, DBS, said that the demand for sustainable financing to support the renewable energy sector in Asia is growing. It is therefore important to support clients such as Siemens Gamesa who not only want to make clean energy more affordable and reliable but also ensure high standards of sustainability in its supply chain.

“At DBS, we believe that we have a responsibility to partner with clients that are advancing clean energy in Asia. We are pleased that together with clients like Siemens Gamesa, we are able to contribute to a positive change, advance the SDGs and generate long-term value for the community,” he said.

David Mesonero, CFO of Siemens Gamesa said that the SDGs reflect a new understanding that global development must integrate economic growth, social well-being and environmental protection.

“This deal is a further step in our commitment to being one of the main drivers of sustainable development. At Siemens Gamesa, we are focused on driving this global process and contributing to the attainment of those goals. In fact, our wind turbines produce clean energy for millions of homes and contribute to combating climate change, one of the main challenges that we face at present,” he said.

With over 100 GW of installed wind capacity, Siemens Gamesa contributes to cutting CO₂ emissions by 264 million tons per year, equivalent to the planting of more than four billion trees. The company also supports the global climate protection goals and has adopted a global initiative to decarbonise economies. Siemens Gamesa has undertaken to be carbon-neutral by 2025, by replacing conventional emission-intensive power sources with renewable energies in its operations.

Hong Teck Khiam, Head, Power & Utilities Industry, DBS, said, “Wind energy plays a vital role in the global energy transition. With a comprehensive suite of innovative financing solutions and our Asian network connectivity, DBS is well-positioned to partner global and regional renewable energy players in this transition journey.”

Over the last two years, DBS has provided over SGD 3 billion in financing and advisory services to the renewable energy sector across nine markets in Asia Pacific comprising onshore and offshore wind projects, as well as ground-mounted, rooftop and floating solar energy projects.

In 2019 alone, DBS closed about SGD 5 billion in sustainable finance transactions comprising green loans, sustainability performance-linked loans and renewable energy financing. Key milestone transactions include:

  • Inking Singapore’s first sustainability-linked loan for an SME with leading egg producer Chew’s Agriculture[1];
  • Signing first-of-its-kind SDG Innovation Loan with City Developments[2] to accelerate innovative solutions that have a positive impact on SDGs;
  • Signing Taiwan’s first sustainability-linked loan with AU Optronics[3]. The loan is also the first of its kind for an IT company in Asia Pacific;
  • Being Mandated Lead Arranger for the financing of three offshore wind farms in Taiwan worth SGD 8.5 billion equivalent. These wind farms will have a total installed capacity of 1.1GW and will supply clean energy to more than 900,000 Taiwanese.
  • Advising and leading the financing of Vena Energy’s 70MW ground-mounted solar structure, Taiwan’s largest-to-date.

Last year, DBS also launched the second season of its award-winning mini-series Sparks to shed light on some of the most pressing social and environmental issues of the day. The episodes were inspired by the stories of social enterprises supported by DBS Foundation, which has nurtured over 300 social enterprises and awarded over 100 social enterprises in Asia with more than SGD 4.7 million in grant funding.

Total
0
Shares
Share
Tweet
Share
Share
Related Topics
  • DBS
  • Energy
  • Green Facility
  • Renewables
  • Siemens Gamesa
  • Sustainability
dotlah.com

Previous Article
  • Cities

A321 Converted Freighter Receives EASA Supplemental Type Certification

  • February 26, 2020
View Post
Next Article
  • Technology

SUTD And Thales Collaborate To Accelerate The Development Of Smart Aviation Technologies

  • February 26, 2020
View Post
You May Also Like
View Post
  • Lah!

Tariffs, Trump, and Other Things That Start With T – They’re Not The Problem, It’s How We Use Them

  • John Francis
  • March 25, 2025
View Post
  • Lah!

Canonical announces 12 year Kubernetes LTS

  • John Francis
  • March 4, 2025
dotlah-smartnation-singapore-lawrence-wong
View Post
  • Artificial Intelligence
  • Featured
  • Features
  • Lah!
  • Machine Learning
  • Technology

Growth, community and trust the ‘building blocks’ as Singapore refreshes Smart Nation strategies: PM Wong

  • Dean Marc
  • October 9, 2024
dotlah-singapore-ndp-2024
View Post
  • Lah!

Here’s what to expect for NDP 2024!

  • dotlah.com
  • August 9, 2024
dotlah-singapore-airlines_may_21-1716298816
View Post
  • Lah!

Severe turbulence during Singapore Airlines flight leaves several people badly injured. One man died

  • majulah
  • May 22, 2024
dotlah-pm-lee-lawrence-wong-9656d4cd-1fa4-40ed-905d-e19e639b8476_728802dd
View Post
  • Lah!
  • People
  • Politics

End of Lee Era for Singapore as PM Steps Down

  • dotlah.com
  • May 16, 2024
DPM Lawrence Wong will be Singapore's fourth prime minister on May 15. ST PHOTO: LIM YAOHUI
View Post
  • Lah!
  • People
  • Politics

7 things to know about Singapore’s next prime minister Lawrence Wong

  • dotlah.com
  • May 15, 2024
When asked about his leadership style, DPM Lawrence Wong said he will be open and consultative, but he will not shirk from doing what is necessary for Singapore's future. ST PHOTO: LIM YAOHUI
View Post
  • Features
  • Lah!
  • People
  • Politics

‘We are prepared to relook everything’: Lawrence Wong on a changing society and his hopes for S’pore

  • dotlah.com
  • May 15, 2024


Trending
  • “Toyota Woven City,” a Test Course for Mobility, Completes Phase 1 Construction and Prepares for Launch 1
    • Cities
    • Technology
    “Toyota Woven City,” a Test Course for Mobility, Completes Phase 1 Construction and Prepares for Launch
    • January 6, 2025
  • 2
    • Business
    DBS Introduces Digital Green Packets DBS eGifts For Hari Raya 2020
    • April 26, 2020
  • 3
    • Cities
    DBS Bank Provides SGD40 Million Loan Facility To Sembcorp Industries For Singapore’s First Single Large-scale Floating Solar Photovoltaic System
    • August 22, 2020
  • street cars 4
    • Cities
    How Infrastructure Has Helped Societies Grow Furiously?
    • November 11, 2020
  • 5
    • Lah!
    • Society
    • Technology
    Translating Mad Ideas Into Reality
    • August 31, 2021
  • 6
    • Cities
    Inversion Solutions — Tackling Utah’s Pollution Problem
    • February 28, 2020
  • 7
    • Lah!
    Reusable, Foldable And Sterilisable ‘Shield’ Developed By NUS-NUH Team Provides Additional Protection For Healthcare Workers Caring For COVID-19 Patients
    • June 27, 2020
  • 8
    • Lah!
    IMF Reaffirms Singapore’s Financial Sector Oversight As “Among the Best Globally”
    • July 16, 2019
  • 9
    • People
    • World Events
    Coronavirus: Which Countries Are Most Affected?
    • March 5, 2020
  • 10
    • Cities
    • Lah!
    Sembcorp Industries Launches Singapore’s First Sustainable Financing Framework For The Energy Sector
    • August 31, 2021
  • 11
    • Lah!
    DBS Partners Food Bank To Better Address Food Gaps For The Vulnerable Through Singapore’s First Virtual Food Banking App
    • June 6, 2020
  • 12
    • Cities
    Popes were once confined to Rome. Now they travel the world – and Francis’ current journey is particularly significant
    • September 13, 2024
Trending
  • Camping 1
    The Summer Adventures : Camping Essentials
    • June 28, 2025
  • 2
    Meralco PowerGen’s PacificLight starts up 100 MW fast-response plant in Singapore
    • June 20, 2025
  • 3
    A Father’s Day Gift for Every Pop and Papa
    • June 14, 2025
  • 4
    Apple services deliver powerful features and intelligent updates to users this autumn
    • June 12, 2025
  • 5
    Apple supercharges its tools and technologies for developers to foster creativity, innovation, and design
    • June 11, 2025
  • 6
    It’s time to stop debating whether AI is genuinely intelligent and focus on making it work for society
    • June 8, 2025
  • 7
    PBBM asks Singapore to invest more in PH renewable energy projects
    • June 6, 2025
  • 8
    Singapore PM Wong arrives in Malacañang
    • June 4, 2025
  • 9
    Renewable energy, carbon credits are priority areas of cooperation for Singapore, Philippines: Lawrence Wong
    • June 4, 2025
  • 10
    Singapore businesses eye more investments in PH, says PM Wong
    • June 4, 2025
Social Links
dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Connecting Dots Across Asia's Tech and Urban Landscape

Input your search keywords and press Enter.