ComfortDelGro taps DBS to accelerate UK green bus shift

The transportation company purchased 135 electric buses with the green loan.

DBS has partnered with ComfortDelGro Corporation for a $100m loan facility that will fund the latter’s move to decarbonise its bus fleet in the UK.

In a statement, DBS said proceeds of the green loan were used to purchase 135 electric buses for ComfortDelGro’s wholly-owned subsidiary Metroline. The number includes 77 double-deck and 58 single-deck electric buses.

Metroline is the fourth largest scheduled bus operator in London, with a coverage of 17% of the city’s scheduled bus services.

The new bus units will replace 135 internal combustion engine-powered buses and are projected to avoid approximately 9,900 tonnes of CO2 equivalent tailpipe emissions annually.

The loan is ComfortDelGro’s latest move to pursue its ongoing efforts to transition its global bus fleet to 50% cleaner energy vehicles by 2030 and 100% by 2050.

RELATED: Higher fares and rail ridership boost ComfortDelGro’s Q1 margins