CTBC Bank (中國信託銀行) has been honored with three awards at the annual Sustainable Infrastructure Awards organized by The Asset magazine, the bank said in a statement on Thursday.
The bank won the “Renewable Energy M&A Deal of the Year, Global” and the “Renewable Energy M&A Deal of the Year, Taiwan” awards for leading a syndicated loan last year to Orsted A/S’ Changfang (彰芳) and Xidao (西島) wind farms off the coast of Changhua County, the statement said.
CTBC also managed a syndicated loan for Zhong Neng (中能) offshore wind farm off the coast of Changhua County, which won the “Renewable Energy Deal of the Year — Offshore Wind, Taiwan” award.
Photo courtesy of CTBC Bank
The awards demonstrate that the bank’s performance in green energy project financing has won international recognition, it said.
The awards were presented at the Asset Sustainable Infrastructure Awards Dinner in Singapore on Thursday.
CTBC Bank president James Chen (陳佳文) said the bank has followed the government’s policy to help build Taiwan into an industrial cluster for the development of offshore wind energy technology in Asia.
The bank was ahead of its local peers in providing financial services for the offshore wind energy sector in 2018. It has since introduced a number of innovative technologies and indicators, and set up a dedicated financial advisory team and project financing team, Chen said.
At a time when other domestic banks were not financing wind power projects, CTBC was cooperating with a number of foreign banks to successfully develop offshore wind farm project financing, applying its experience in managing syndicated loans and its advantages from well-established domestic and foreign bases, it said.
CTBC served as domestic financial adviser and lead coordinating bank for a NT$45 billion (US$1.5 billion) syndicated loan for the Zhong Neng offshore wind farm, backed by China Steel Corp (中鋼) and Copenhagen Infrastructure Partners K/S. Twenty banks participated in the loan, 16 of which were local banks, including eight state-owned lenders, it said.
The loan was 250 percent oversubscribed, setting a record for wind energy project financing in Taiwan, it added.
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