HSBC Singapore has awarded a USD6 million green loan to Durapower Group, making it the first financial institution to issue financing under the Enterprise Financing Scheme-Green Scheme (EFS-Green Scheme).
The funding will be used to develop and deploy energy storage solutions (ESS) for the automated guided vehicle fleet of Singapore’s Tuas Mega Port. The fleet is an important part of making the port more environmentally friendly by implementing sustainable, smart, and clean energy solutions.
The EFS-Green Scheme was established by Enterprise Singapore, which ensures easy access to finance for corporates enabling Singapore’s transition to a greener economy. Project developers, system integrators, and technology and solution enablers in the renewable energy, circular economy, green infrastructure, and clean transportation sectors will benefit from a 70 per cent risk-sharing arrangement under the scheme.