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LYS Energy obtains S$14m green loan from UOB
SINGAPORE solar company LYS Energy on Wednesday said it has obtained a S$14 million green loan from United Overseas Bank (UOB).
The loan is issued under UOB's Green Infrastructure Framework as part of the bank's U-Solar programme, the first solar industry ecosystem in Asia to power the development and adoption of renewable energy across South-east Asia.
It will be used to finance LYS's solar energy assets in Singapore and support the group's expansion in the region.
Founded in 2012, LYS has deployed more than 50 megawatt-peak (MWp) of solar photovoltaic systems and has a pipeline of more than 500 MWp in Singapore and South-east Asia, the company said.
Its customers come from industries including aerospace, electronics, logistics and real estate.
UOB shares were down S$0.14 or 0.7 per cent to S$19.31 as at 11.23am on Wednesday.