Keppel and HSBC team up for energy transition initiatives

Keppel Corporation‘s Infrastructure Division and HSBC have entered into a Memorandum of Understanding (MOU) to explore potential collaborations in the field of decarbonisation solutions. This partnership aims to jointly create and capitalise on the increasing market demand for sustainable and decarbonisation solutions in densely populated urban cities and regions within the Greater Bay Area (GBA), such as Guangzhou, Shenzhen, and Hong Kong, as well as across Asia.

Under the MOU, Keppel’s expertise and track record in developing and operating innovative, reliable, and sustainable energy and environmental infrastructure will be combined with HSBC’s capability to provide green financing. This collaboration intends to accelerate and scale up climate change solutions and direct investments toward sustainable projects.

The agreement outlines plans for the parties to explore cooperation in areas like market and client development, with a focus on utilising Hong Kong’s green finance and technology expertise to support the region’s energy transition endeavours.

Commenting on the MOU, Ms Luanne Lim, Chief Executive, Hong Kong, HSBC, said: “The global climate crisis requires global solutions. As Hong Kong’s global bank, we are mobilising finance to support our customers to diversify and decarbonise – driving real world impact through the financial sector.”

Ms Cindy Lim, Chief Executive Officer, Infrastructure Division, Keppel, said: “Keppel’s sustainability solutions are differentiated by our proprietary technologies and operating know-how. We are pleased to partner HSBC to tailor Energy-as-a-Service offerings, coupled with sustainable financing solutions, to accelerate the greening of the built environment, transportation and waste management, from Hong Kong to the Greater Bay Area and to the rest of Asia.”

Through the MOU, the parties will leverage their strengths to meet the rising demand for green technology aimed at reducing emissions and scale up low-carbon solutions in GBA and Asia, as well as help end-users achieve energy efficiency and cost savings whilst reducing their carbon footprint.

Keppel’s flagship technology-based sustainability solutions include waste-to-energy (WTE), district cooling as well as net-zero energy generation and EV charging infrastructure, powered by digital twin and AI-based operations and monitoring. 

Asia is facing substantial financing and investment requirements for sustainable projects. Experts in the financial sector predict that the demand for green financing in Asia alone is projected to reach an impressive USD 66 trillion over the course of the next three decades.

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