HSBC Malaysia will be the sole lender for a US$ 44 million 5-year Committed Term Loan to HNG Capital Group (HNG Capital) to finance the acquisition of a stake in a 330MW solar project in Vietnam.
Country Head of Corporate, Commercial Banking, HSBC Malaysia, Karel Avni Doshi said as part of the Malaysian investment holdings company’s vision to grow as a regional power player, HNG Capital acquired the stake from a company listed on the Ho Chi Minh City Stock Exchange (HoSE).
Karel said the close collaboration between HSBC Malaysia and HSBC Vietnam provided a holistic solution for HNG Capital’s acquisition of the solar project.
“HSBC is proud to support a Malaysian company such as HNG Capital in its regional expansion journey within ASEAN, particularly in sustainable energy initiatives.
“This bodes well with HSBC’s net zero ambition where we aim to support our valued customers on their journey to a net zero carbon future while ensuring their ongoing resilience and growth,” Karel said.
Karel also stated HNG Capital acquired a majority and controlling stake in a hydropower project comprising five hydropower plants in Vietnam in 2016, In line with its vision to pave the way towards sustainable power generation.
The bank plans to partner with its business customers to minimise carbon emissions from its total consumer portfolio to net zero by 2050 or earlier, in compliance with the Paris Agreement target.
In November 2020, the HSBC Group announced its net zero goal, which requires a new series of climate pledges in response to climate change.
