ABA Bank Becomes Anchor Investor In Green Bond For Cambodia's Solar Energy Future
ABA Bank has solidified its commitment to sustainable development by becoming the first and largest green bond investor in SchneiTec Dynamic's pioneering green bond. This landmark transaction marks Cambodia's first-ever green project bonds dedicated to bolstering the Kingdom's rapidly expanding solar power infrastructure.
ABA Bank has demonstrated its strong belief in this green initiative, becoming the anchor investor. This significant participation reflects the bank's appetite for corporate lending and capability to handle complex, structured transactions for corporate customers and SMEs.
SchneiTec Dynamic, a special-purpose company established for developing and operating renewable energy solutions, will utilize the proceeds from this green bond to accelerate the development of solar energy capacity across the country. This initiative directly supports Cambodia's national objectives of enhancing energy security and transitioning towards cleaner energy sources.
Investments in green energy infrastructure are anticipated to yield numerous economic and environmental benefits for Cambodia, including cheaper production costs, more affordable energy for consumers, and a boost to the country's regional competitiveness.
"We believe this investment in SchneiTec Dynamic's green bond is a significant step towards a more sustainable energy future for Cambodia. We are proud to be the anchor investor in this first-of-its-kind project, which we believe will pave the way for further green financing in the Kingdom," commented Chanthida Huot, Chief Corporate Banking Officer of ABA Bank.
SchneiTec Co. Ltd. is the first-ranking company in supplying renewable energy solutions and a leading solar farm company in Cambodia, responsible for building the largest solar farms in the country. SchneiTec Dynamic Co., Ltd. is a special-purpose company established to develop and operate the 60 MW solar photovoltaic power plant in Kampong Chhnang province, financed partly by the green bond.
This press release was supplied.