DBS Bank (Taiwan) joined hands with offshore wind power giant Wo Xu Energy and 14 other bankers to sign a "Sustainable Performance Linked Revolving Financing Case" totaling NT$25 billion. The funds raised will be used to invest in related investments. DBS has supported the financing of 13 large-scale green energy projects so far.
* DBS Bank (Taiwan) and Wo Xu Energy aim to develop green energy for Taiwan and contribute towards net zero emissions.
* DBS Bank (Taiwan) actively integrates sustainability with its financial industry and has invested over NT$88 billion in sustainable finance business.
Original Press Release:
Taiwan, Aug. 30 -- DBS Bank issued the following news release:
DBS Bank (Taiwan) joined hands with offshore wind power giant Wo Xu Energy and 14 other bankers to sign a "Sustainable Performance Linked Revolving Financing Case" totaling NT$25 billion, serving as the main participant. Loan bank. This case not only demonstrates the long-term and profound partnership between DBS Bank (Taiwan) and WoX Energy, but also demonstrates DBS’s continued efforts to expand the common good of sustainable finance and promote the development of renewable energy.
The funds raised from WOSH Energy's "Sustainable Performance Linked Revolving Financing Case" will be used to invest in related investments including offshore wind power, green energy, environmental issues, etc. DBS Bank (Taiwan) will track WOSH's related permanent investments during the loan period. Continue to target, and provide corresponding preferential loan interest rates based on performance achievement. Optimistic about WOSH's more than 30 years of execution experience in building offshore wind farms in various countries and its comprehensive business model across development, construction, and operation and maintenance, DBS Bank (Taiwan) and WOSH have joined forces to develop green energy for Taiwan. and contribute towards net zero emissions.
Luo Lunyou, head of corporate and institutional banking at DBS Bank (Taiwan), said that the idea of ??balancing commercial interests and sustainable development has become a business management trend. Following the three main sustainability strategies of "responsible bank", "responsible corporate operation" and "creating influence beyond the banking industry", DBS Bank (Taiwan) actively integrates sustainability with its financial industry and continues to invest in it. With the development of renewable energy and green finance industries, the current financing amount of DBS Bank (Taiwan)'s sustainable finance business has exceeded NT$88 billion, which demonstrates our commitment to actively invest in sustainability.
DBS Group in Taiwan has served as the co-financing banker for Taiwan's first offshore wind power plant in 2018. It has supported the financing of 13 large-scale green energy projects so far, and continues to provide support to the local wind power and solar photovoltaic industries.
DBS Group is pursuing business development while continuing to deepen its sustainability efforts. In addition to its commitment to achieving net-zero carbon emissions in lending by 2050, DBS recently announced that it will invest SGD 1 billion (approximately NT$22.8 billion) over the next 10 years. Give back to the communities where we operate, ensure stable financial support for the implementation of relevant public welfare programs, and strive to become a Different Kind of Bank. DBS Bank (Taiwan) actively responds to sustainability issues and promotes social inclusion efforts, and was recognized as the first prize in the "Comprehensive Performance Foreign Category" of the 2023 Foresight Magazine ESG Corporate Sustainability Awards.
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Source: DBS Bank