Renewable Energy Financing
Solar in Taiwan
DBS financed Vena Energy’s 70 MW Taiwan project, a landmark deal as the largest ground-mounted solar project in the market.
Geothermal in Indonesia
In Indonesia, we were the underwriter and mandated lead arranger (MLA) for Star Energy’s Wayang Windu geothermal energy project with total generation capacity of 220 MW. We were also the structuring bank and international bank coordinator for Star Energy’s consortium for the acquisition of geothermal assets from Chevron – Salak with a generating capacity of 377 MW, and Darajat II with a total capacity of 271 MW. Salak is one of the largest geothermal operations in the world.
Wind in Australia
In Australia, we were MLA for the 200 MW Silverton Wind Farm, which can produce approximately 780,000 MWh of renewable energy annually. The renewable energy produced from the wind farm’s 58 turbines will reduce CO2 emissions by 655,000 tonnes annually. We were also MLA for the 453 MW Coopers Gap Wind Farm. The renewable energy produced would reduce CO2 emissions by approximately 1,180,000 tonnes annually, which is equivalent to taking more than 340,000 cars off the road.
Waste-to-Energy in China
In China, we were sole financier for the refinancing of a waste-to-energy project (with 2,050 tonnes per day processing capacity and 36 MW power generation capacity) in Wuhu, Anhui province. The project is ultimately owned by SGX-listed China Jinjiang Environment Holding Company, one of the largest waste-to-energy companies in China.
Solar in China
We extended RMB 1 billion in bilateral financing to CPI Leasing. CPI Leasing is involved in renewable energy (close to three-quarters of its leasing exposure). CPI Leasing is part of the State Power Investment Corporation group, which owns one of the largest solar independent power producer portfolios in the world.
Wind in Taiwan
DBS is one of the seven international banks participating in project financing for Taiwan’s first offshore wind farm – Formosa 1. The project is split into two phases - two 4 MW offshore wind turbines were constructed in Phase I and have been operational since 2017; and completion of Phase II will increase Formosa 1’s total capacity to 128 MW, through the construction of twenty 6 MW offshore turbines in 2019.
Building Retrofit Energy Efficiency Financing Scheme
DBS participates in the pilot Building Retrofit Energy Efficiency Financing Scheme, which is introduced by the Building and Construction Authority (BCA), to help companies offset the high upfront costs associated with energy efficiency improvement works.