Keppel Land China, a Singapore-based company, has secured its first green loan facility to the tune of RMB 850 million (~$125 million) from HSBC Group China for the development of Seasons City (Phase 1) in the Sino-Singapore Tianjin Eco-City.
Keppel Land, which is the subsidiary of the Keppel Group of Companies, is geographically diversified in Asia, with Singapore, China, and Vietnam as its key markets. It has also expanded its businesses in other markets such as Indonesia and India. The Keppel Group leads the Singapore consortium in the development of the Eco-City, a landmark bilateral project between the governments of Singapore and China.
The green loan for Seasons City (Phase 1), which will be on a five-year term, is to be aligned with the green loan principles issued by the Loan Market Association, the Asia Pacific Loan Market Association, and the Loan Syndications and Trading Association. It is the first green loan granted by the HSBC Group China to support the development of a property project in mainland China.
The commercial development of Phase 1 of Seasons City adopts energy-efficient lighting designs, chillers, and ventilation systems. It also taps on non-potable water to reduce water consumption. The project has also installed a photovoltaic system and a solar hot water system to utilize solar energy. The total energy and water savings to be achieved by Seasons City (Phase 1) are estimated to be over RMB9 million (~$1.8 million) annually.
Meanwhile, the World Bank recently approved $300 million loans for the China Renewable Energy and Battery Storage Promotion Project to increase the integration and utilization of renewable energy. Hua Xia Bank has been assigned to implement this project. The Chinese commercial bank will provide co-financing of at least $450 million to achieve the development goals of the project.
Anjana is a news editor at Mercom India. Before joining Mercom, she held roles of senior editor, district correspondent, and sub-editor for The Times of India, Biospectrum and The Sunday Guardian. Before that, she worked at the Deccan Herald and the Asianlite as chief sub-editor and news editor. She has also contributed to The Quint, Hindustan Times, The New Indian Express, Reader’s Digest (UK edition), IndiaSe (Singapore-based magazine) and Asiaville. Anjana holds a Master’s degree in Geography from North Bengal University, and a diploma in mass communication and journalism from Guru Ghasidas University, Bhopal.