CapitaLand secures $400m in green loans

CapitaLand offices in Singapore to adopt 100% renewable energy by end 2020.

CapitaLand has secured a total of $400m in two bilateral green loans to catalyse the greening of their global portfolio by 2030, according to a press release. The proceeds will be used towards the development, investment, and acquisition of certified green buildings.

The $150m four-year green loan is provided by DBS Bank (DBS) whilst the $250m three-year multi-currency green loan is provided by the Hongkong and Shanghai Banking Corporation Limited – Singapore Branch (HSBC).

CapitaLand’s corporate offices across three locations in Singapore will be 100% powered by renewable energy by the end 2020. This furthers CapitaLand’s objective to achieve at least 20% energy consumption from renewable energy by 2025.

The group will also purchase Renewable Energy Certificates (REC) from the clean energy generated from over 21,000 solar panels installed atop CapitaLand’s six industrial properties. The RECs will be used to reduce carbon emissions in its corporate offices within Capital Tower, Galaxis and eCapitaHub, starting with Neuros and Immunos in 2020 and Nexus@one-north and Nucleos in 2022.

The green buildings are expected to achieve a Green Mark GoldPLUS certification by the Building & Construction Authority of Singapore (BCA) or a Leadership in Energy and Environmental Design (LEED) Gold rating by the United States Green Building Council.

The company has been awarded Building & Construction Authority of Singapore’s (BCA) Green Mark Platinum ‘Super Low Energy (SLE)’ certification for LogisTech, with its rooftop solar panels estimated to generate over 2,000 megawatt hour (MWh) of energy per year. Other initiatives include a highly efficient water-cooled chiller plant and air handling units with estimated efficiency of 0.62 kW/RT and 0.18 kW/RT, respectively.

CapitaLand now has 16 properties in Singapore, China, Belgium, and India and four business parks in India that are fully or partially powered by renewable energy.