Sustainable energy company Orsted has agreed to a NT$25 billion sustainability-linked revolving loan facility agreement for Orsted’s offshore wind farms in Taiwan with a consortium of financial institutions, including nine state-owned banks.
Guaranteed by Orsted A/S, the sustainability-linked revolving loan facility has attracted oversubscription from both domestic and foreign banks, including all of Taiwan’s state-owned banks.
Orsted and the financial institutions have aligned to include sustainable initiatives related to Orsted’s business operations as key performance indicators to ensure that offshore wind projects are built and operated by the Danish firm “in harmony with nature.”
Commenting on the transaction Christy Wang, Chairperson for Orsted Taiwan, said: “The proactive involvement of domestic and foreign banks is another milestone in the advancement of offshore wind financing in Taiwan. Orsted is committed to introducing various green financing tools and joining hands with our financial partners to build a stronger offshore wind ecosystem, contributing to the green energy buildout and Taiwan’s decarbonisation journey. “
Kasper Kiim Jensen, Vice President of Treasury and Capital Planning at Orsted added: “The financing signifies more than just numbers. It reflects our commitment to sustainability. We’re delighted to see strong support shown from the banking community in Taiwan with the participation in this transaction of 15 banks, including state-owned institutions. This represents our dedication not only to advance offshore wind development in Taiwan but also to ensure it is undertaken in a sustainable manner. “
The sustainability-linked revolving loan facility has attracted oversubscription from both domestic and foreign banks, notably including all of Taiwan’s state-owned banks. Facilitated by Bank of Taiwan, CTBC Bank Co., Ltd., and BNP Paribas Taipei Branch, who will jointly act as Mandated Lead Arrangers and Bookrunners.