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Singapore-based LYS Energy Group secures S$14 mn green loan

LYS energy loan
The loan will be provided by United Overseas Bank

Singapore-based solar energy producer LYS Group has secured around S$14 million green loan from United Overseas Bank (UOB), according to media reports.

The green loan acquired by LYS Energy will be used to expand its operations across the region and also finance its solar energy assets.

The loan was issued under the UOB’s Green Infrastructure Framework as part of the bank’s U-solar program.

With regard to the green loan acquired from United Overseas Bank, Lionel Steinitz, founder and chief executive officer of LYS Energy Group told the media, “Through our U-Solar programme, UOB has been working actively with our clients, including LYS Energy Group, to accelerate the use of solar energy in Singapore and across the region.”

“The COVID-19 pandemic, with its sudden outbreak and its ferocity, forces us to realise how fragile we as human beings are. While the sanitary crisis and climate change are two separate problems, I trust that the post-pandemic era will open on the observation that our environment is also very delicate and require a subtle balance with global economic activity.”

“Following the entry of the French Sovereign Wealth Fund in our group (Banque Publique d’Investissement or BPIfrance), this green loan marks another important milestone for LYS Energy in our journey to bolster the adoption of a low-carbon energy path in Singapore and Southeast Asia.”

Established in 2012, the energy company owns and operates solar PV systems for commercial, industrial and public sites in the region.

So far, the company has deployed over 50MWp of solar PV systems, with a pipeline of over 500MWp in Singapore and across the region in Vietnam, Indonesia, Malaysia, Thailand, and the Philippines.

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