PacificLight secures financing for 670MW hydrogen-ready CCGT plant

Plant part of PacificLight and financial partners’ green initiative

PacificLight has completed financing for its new 670 megawatt hydrogen-ready H-class Combined Cycle Gas Turbine (CCGT) plant.

Construction on the plant will begin in early 2026 with production to begin in 2029, the company said in a statement.

The financing was achieved under a Green Transitioning framework aimed at securing funding to projects that contribute to the transition to a greener earth.

The financing partners involved were Maybank, DBS Bank, OCBC, UOB, and the Singapore branches of National Bank of Kuwait S.A.K.P, ING Bank N.V., The Bank of East Asia Limited, China CITIC Bank International Limited, and Taipei Fubon Commercial Bank Co., Ltd.

The sustainable and transition finance framework that PacificLight used was made sure to align with Singapore-Asia Taxonomy for Sustainable Finance and the Asia Pacific Loan Market Association’s Green Loan Principles.