VPower Group International Holdings Limited (“VPower Group” or the “Group”, stock code: 1608.HK), a leading DPG station owner and operator in Asia, is pleased to announce that two of its subsidiaries have been granted energy transition loan with the Green Finance Pre-issuance Stage Certificates issued by the Hong Kong Quality Assurance Agency (“HKQAA”) in its first participation in green finance, demonstrating the Group’s efforts to support energy transformation and also its commitment to sustainable development.
The Group has signed a US$200 million unsecured syndicated loan agreement with five leading banks, namely The Hongkong and Shanghai Banking Corporation (“HSBC”), Bank of China (Hong Kong), Standard Chartered Bank, United Overseas Bank, and Hang Seng Bank, which includes the Group’s first transition loan granted by HSBC, Bank of China (Hong Kong), Standard Chartered Bank and Hang Seng Bank with HSBC being the sole green finance structuring bank. A climate action finance framework has been formulated accordingly with approval from the HKQAA. The Group plans to use the proceeds in the biogas project in Shandong, China and Organic Rankine Cycle (“ORC”) technology in the Myingyan II project in Myanmar.
Mr. Ambrose Lee, Chief Strategy Officer and Head of Capital Markets/Corporate Finance of VPower Group, said, “The Group has made environmental protection one of its top priorities. While launching diversified and high-quality power solutions, we are committed to improving energy efficiency and reducing carbon emissions. We are honored to participate in green finance and receive the Green Finance Certificates, both representing high recognition for our outstanding performance in building and operating environmentally friendly distributed power stations globally. We would like to thank the banks and HKQAA for their solid support. In the future, we will continue with our mission to lighten up the world and strive for excellence in contributing to community development and environmental protection works around the world.”
About VPower Group International Holdings Limited
Headquartered in Hong Kong, VPower Group is an integrated expert in distributed power generation (DPG). It principally engages in power system integration (SI) business, covering designing, integrating and sale of gas-fired and diesel-fired engine-based gen-sets and power generation systems, and Investment, Building and Operating (IBO) business, involving investing in, building, leasing and operating distributed power stations to supply reliable electricity.