Vena Energy, Asia-Pacific’s leading renewable energy company, announced today that it has secured a green loan from Shinsei Bank for the construction of the “Nakasato” Wind Project, which has an installed capacity of 46.8 MW, and a grid capacity of 36 MW. Dubbed the “Shinsei Green Loan”, the financing comprises a JPY14.478B term loan and aligns with Vena Energy’s Green Financing Framework established in 2018, as well as the Shinsei Green Finance Framework formulated in May 2020.
The Nakasato Wind Project is expected to achieve commercial operations in the first quarter of 2022 and consists of 13 wind turbines spanning an area of 24 hectares. The Project is constructed by a peak workforce of 200 local workers and will be capable of supplying around 22,000 households(1) with clean renewable energy on a yearly basis. Compared to thermal energy generation, the Nakasato Wind Project will also reduce approximately 61,000 tonnes(2) of greenhouse emissions, while saving up to 87 million litres of water annually(3).
“Sustainability is at the heart of Vena Energy’s corporate strategy. We are determined to contribute to the energy transition, the decarbonisation of the economy and the fight against climate change through the generation of wind and solar power and the provision of clean energy storage,” said Juan Mas Valor, Head of Vena Energy Japan. “The Shinsei Green Loan will contribute to delivering the Nakasato Wind Project and support our efforts to sustain the environment, the biodiversity and the people of the Aomori Prefecture.”
“Shinsei Bank incorporates the concepts of sustainability and social impact into our business,” said Hirofumi Kusakabe, Managing Executive Officer, Head of Group Structured Solution at Shinsei Bank. “This transaction, which represents that the Nakasato Wind Project has been developed with due consideration for the environment and local communities and is going to provide environmental benefits in accordance with the Shinsei Green Loan assessment, is an important step in realizing our commitment to a sustainable future.”
- Households Powered is based on annual household electricity consumption of each operating country derived from Residential Electricity Consumption data obtained from the International Energy Agency (2018) and number of households data derived from population data from United Nations (2019) and household size data taken from United Nations (2019).
- Greenhouse Gas (GHG) Emissions Reduction is calculated assuming that the generation from renewable energy plants replaces an equal quantity of electricity generated using coal, gas, and oil. Unique GHG emissions factors were calculated for each country based on respective country energy mix and emissions data obtained from BloombergNEF (2019).
- Water Saved is calculated based on the water consumption of solar and wind power plants compared against the various sources of power generation in each country where Vena Energy operates in. Unique water savings factors were calculated for each country based on respective country energy mix obtained from BloombergNEF (2019) and water use intensity factors from a paper titled “Water Demand Scenarios for Electricity Generation at the Global and Regional Levels” by Terrapon-Pfaff, et al., (2020).
- Includes assets in operation, construction, and shovel ready (OCSR) stages, and projects in various stages of development.