Seatrium has, through its wholly-owned subsidiary, Seatrium Financial Services, secured a $400 million committed green revolving loan facility from United Overseas Bank U11 1.68% (UOB).

 

The loan facility is underpinned by green loan principles and will finance Seatrium&rsquo s green and, or environmentally sustainable projects. It will also help the group achieve its environmental, social and governance (ESG) targets over time.

 

" Seatrium is pleased to partner with UOB on our inaugural green loan facility that will enable us to unlock new opportunities to scale our business ambitions in maritime and offshore renewables,&rdquo says Adrian Teng, chief financial officer (CFO) of Seatrium.

 

&ldquo Successful partnerships with industry players and financial institutions are critical in achieving our shared commitment towards maritime decarbonisation. UOB' s strong support for our green financing efforts underscores their commitment towards sustainable development, a key step towards driving positive change in clean energy transition,&rdquo he adds.

 

&ldquo The transformation of the global energy system is exponential and green financing plays a pivotal role in accelerating this transition towards decarbonisation. As like-minded partners, we are aligned and supportive of Seatrium&rsquo s industry-leading efforts to seize opportunities within the renewables energy segment. This partnership will pave the way for more innovative and cleaner energy solutions to chart responsible business growth globally,&rdquo says Leong Yung Chee, head of group corporate banking at UOB.

 

Seatrium had secured over $2 billion in sustainability-linked loans and green financing in 2023. The group has targeted to have 40% of its net order book made up of cleaner and, or greener solutions and renewable sources of energy by 2030.