Sunday, June 26 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Jun 20
Week of Jun 13
Week of Jun 06
Week of May 30
Week of May 23
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    DBS Hong Kong and CNTIC HK Strengthen Sustainability Commitment via Wind Power Project in Bosnia and Herzegovina with EUR 15 million Green Bridge Loan


    May 16, 2022 - ENP Newswire

     

      DBS Hong Kong entered into a green bridge loan agreement with CNTIC Capital (Hong Kong) Co., Limited ('CNTIC HK'), the sole offshore investment and funding arm of China National Technical Import and Export Corporation ('CNTIC'), as well as a fully-owned subsidiary of China General Technology (Group) Holding Co., Ltd ('Genertec').

      Genertec is one of the largest engineering, procurement, and construction conglomerates in China which was recognised as a global Fortune 500 enterprise in 2020.

      The completion of the green bridge loan worth close to EUR 15 million, marks DBS Hong Kong's first green loan with CNTIC, for which the bank serves as the sole bilateral lender, and provides CNTIC's first offshore bank loan. This transaction is also supported by China Export & Credit Insurance Corporation ('Sinosure'), a state-funded policy-oriented insurance company, serves as the sole guarantor on the loan.

      The green bridge loan will go towards financing CNTIC HK's wind farm project in the municipalities of Tomislavgrad and Livno in Bosnia and Herzegovina. The project, known as Project Ivovik, will be the biggest wind farm and largest-ever investment in renewable energy sources by Chinese enterprises in the markets.

      The wind farm will be developed by both CNTIC HK and PowerChina Resources Limited Code: 601669.SS), featuring a total installed capacity of 84 milliwatts (MW). By promoting energy transition and upgrading energy infrastructure upon completion, this national project will contribute to the process of achieving carbon peak and carbon neutrality in Bosnia and Herzegovina.

      Alex Cheung, Managing Director and Head of Institutional Banking Group of DBS Hong Kong, said, 'As more organisations make concerted efforts in driving a zero-carbon future, the renewable energy industry has been developing at an unprecedented rate. DBS Hong Kong is proud to play a strategic role in supporting CNTIC HK's sustainability endeavours via Project Ivovik, its landmark investment that will transform the renewable energy landscape in Bosnia and Herzegovina, and paves a pathway towards achieving carbon neutrality goals.'

      Project Ivovik will be the biggest wind farm and largest-ever investment in

      renewable energy sources by Chinese enterprises in Bosnia and Herzegovina.

      [End]

      About DBS

      DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's 'AA-' and 'Aa1' credit ratings are among the highest in the world.

      Recognised for its global leadership, DBS has been named 'World's Best Bank' by Euromoney, 'Global Bank of the Year' by The Banker and 'Best Bank in the World' by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named 'World's Best Digital Bank' by Euromoney and the world's 'Most Innovative in Digital Banking' by The Banker. In addition, DBS has been accorded the 'Safest Bank in Asia' award by Global Finance for 13 consecutive years from 2009 to 2021.

      DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

      With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.