Terrenus Energy has secured about SGD 300 million in green financing from a consortium of five banks led by DBS. This green loan will fund the installation of photovoltaic panels on around 1,200 public housing blocks, 57 government sites, and various commercial and industrial facilities.
Furthermore, DBS acted as Financial Advisor and Mandated Lead Arranger for the loan, alongside Mizuho Bank, Ltd., Siemens Financial Services through Siemens Bank GmbH Singapore Branch, Shanghai Pudong Development Bank Co., Ltd. Singapore Branch, and China Construction Bank Corporation Singapore Branch.
As part of the renewable energy initiative, photovoltaic panels will be installed to supply power to common areas at various sites. Select public housing estates will also have proprietary smart power metres installed to monitor and track energy usage and performance data under HDB’s SolarNova programme. Additionally, any excess green energy produced will be fed into the national grid.
