PSA Marine Pte has been granted a three-year €30 million sustainability-related loan from DBS Bank for its business expansion into the offshore wind market in Europe.
The loan includes an adjustment of the interest rate linked to the Environmental, Social and Governance (ESG) target. This includes a large deployment of the PSA Marine Crew Transfer Vessels (CTVs) fleet to support offshore wind energy operations, such as the transport and accommodation of staff, cargo and offshore wind farm equipment.
The subsidiary of PSA Marine, Ventus Marine, currently owns and operates a fleet of 10 modern CTVs to support the renewable offshore wind market in Europe.
“PSA Marine has grown our business in the renewable energy sector since 2015 as part of our commitment to move towards sustainable energy. We are proud to play a part in supporting the offshore wind industry and will continue to partner with financial institutions and other organisations to explore new opportunities in this space.”Peter Chew, managing director of PSA Marine.
“The investment made in support of the offshore wind market through the sustainability-linked loan reaffirms PSA Marine’s commitment to support a cleaner and greener future. It creates a win-win outcome for our stakeholders as well as the environment.”Er Wei Lim, vice president of Singapore and head of corporate services of PSA Marine.
“A shift in mindsets by traditionally carbon-intensive industries like transportation towards more sustainable practices is a needed and progressive step in the right direction. We are very happy to have supported this with like-minded partners such as PSA Marine. As a bank, we remain committed to supporting this drive and look to structure more such sustainable-structured transactions to further build on our clients’ sustainability agendas which ultimately will become a key and important differentiator in their businesses.”Boey Yin Chong, managing director and global head of shipping, aviation, logistics and transportation of DBS