Envision Energy has announced the closure of a $600 million (£447m) sustainability-linked loan in Hong Kong.
The loan is tied to performance targets including Scope 3 greenhouse gas emissions and annual wind turbine installed capacity.
The loan, oversubscribed from an initial $500 million (£373m), involved 13 banks from countries including Australia, Germany, France, Italy, Spain, the Middle East and China.
It also included a $100 million (£74.5m) greenshoe option, i.e. an agreement that grants the underwriter the right to sell more shares than originally planned.
The loan was jointly lead-arranged by Banco Bilbao Vizcaya Argentaria and Crédit Agricole Corporate and Investment Bank as Sustainability Structuring Coordinators, Mandated Lead Arrangers, Bookrunners and Underwriters.
Joseph Ma, Co-CFO of Envision Energy said: “This transaction demonstrates the strong confidence of leading global financial institutions in Envision Energy’s credit profile, business model and sustainability leadership.
“We are delighted to partner with a distinguished group of financial institutions that share our vision of accelerating the global energy transition. This financing enhances our flexibility to scale our innovations in renewable energy systems, energy storage and green hydrogen while reinforcing our commitment to measurable sustainability performance. As we continue pioneering Physical AI to build the future energy system, we remain dedicated to building a secure, intelligent and sustainable energy future and to creating long-term value for our customers, partners and society.”
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