Singapore based renewable energy firm, Vena Energy has secured a $600 million sustainability-linked Revolving Credit Facility (RCF) marking a pivotal moment in their ongoing commitment to sustainable energy solutions. This five-year facility, specifically earmarked for sustainability initiatives, shows the company’s dedication to environmental preservation, fostering workplace diversity, and ensuring health and safety standards.
The participation of esteemed financial institutions such as DBS Bank Ltd., MUFG Bank, Ltd., and Mizuho Bank, Ltd., among others, signals widespread recognition and endorsement from the financial sector for initiatives aimed at sustainability within the energy industry. Notably, the involvement of ING Bank and BNP Paribas as sustainability coordinators underscores the growing emphasis on environmental and social responsibility in financing arrangements.
Expressing his enthusiasm for this milestone, Nitin Apte, Vena Energy’s CEO, reaffirms the company’s unwavering commitment to advancing sustainability goals. He views this financing accomplishment as a catalyst for further progress in the energy transition, demonstrating Vena Energy’s proactive stance in driving positive change.
The firm claims to have a track record of consistently delivering solar, wind, and battery projects, Vena Energy has surpassed a significant benchmark, boasting over 3 gigawatts (GW) and now exceeding 4 GW in construction and capacity. This remarkable achievement underscores their position as a leader in the renewable energy sector, poised to make even greater strides in expanding sustainable energy infrastructure.
Besides adding financial strength, this announcement also indicates Vena Energy’s strategic vision and its pivotal role in shaping a more sustainable and resilient energy market. By leveraging this financing to accelerate the transition to renewable energy sources, Vena Energy is not only ensuring a greener future but also contributing to global efforts to cut down impacts on climate.
