Vena Energy has secured its first sustainability-linked facility of $500 million from eight lenders. The facility will have a maximum amount stipulated that the company can access whenever needed. The financers include BNP Paribas, Crédit Agricole CIB, DBS Bank Ltd, ING Bank, MUFG, Intesa, SMBC and Mizuho while ING Bank and BNP Paribas were joint green structuring advisors for the deal.

For the next three years, the sustainability loan will concentrate on key areas such as environmental impact, workplace diversity, and health and safety. It will also be aimed at contributing towards achieving the United Nations Sustainable Development Goal 13 Climate Action. Additionally, the financial deal is in line with the firm’s green financing framework. These categories include hydropower, solar energy, and wind energy under the renewable energy sector. In light of Vena Energy’s socially conscious approach towards combating climate change and decarbonizing the economy, the facility extended to it will help produce tangible Environmental and Social Governance benefits beyond renewable energy.

Vena Energy is a leading independent power producer of renewable energy developers in the Asia-Pacific region. Headquartered in Singapore, and with a presence in Australia, India, Indonesia, Japan, Philippines, South Korea, Taiwan, and Thailand, Vena Energy’s portfolio consists of solar, wind, and battery energy storage system assets producing over 16 GW in operation, construction, shovel-ready, and development stages. The credit facility follows the company’s $325 million green bond issuance in 2020, the first corporate USD green bond issued by a Singapore-based firm.