Since its launch in October 2019, UOB’s U-Solar programme has facilitated the generation of close to 160 gigawatt hours of solar power across Asean, reducing more than 77,200 tonnes CO2-equivalent (tCO2e) in greenhouse gas (GHG) emissions. This GHG emission reduction is equivalent to having close to 1.3 million new tree seedlings grow over 10 years or taking close to 17,000 cars off the road for a year.
The U-Solar programme is part of the UOB Smart City Sustainable Finance Framework, which guides the Bank’s financing efforts to support the development of smart and sustainable cities across the region. It is a solar industry ecosystem to power the development and adoption of renewable energy across Southeast Asia. Through U-Solar, available in Singapore, Malaysia, Indonesia, and Thailand, UOB offers businesses and consumers across Southeast Asia a suite of financial solutions to encourage the development and adoption of solar power. These solutions include providing cash management and green financing to solar project developers, as well as end-to-end contract-based financing solutions to engineering, procurement, construction and commissioning (EPCC) contractors.
Over the last few months, the Bank added three EPCC firms – PT Selaras Daya Utama in Indonesia, Pekat Solar Sdn Bhd in Malaysia and BECIS-Symbior in Thailand – to its network of U-Solar partners, bringing the total to 14 across the region.
