Mizuho Bank backs large-scale rooftop solar project for Singapore-based Terrenus Energy

May 29, 2024

Singapore, 24 May 2024: Mizuho Bank, Ltd. has acted as mandated lead arranger for a S$300 million financing deal for Terrenus Energy. The transaction includes a term loan facility of S$285 million and a banker’s guarantee facility of S$12.5 million.

This is one of the biggest deals in Singapore’s solar photovoltaic (PV) space, and is backed by a consortium of five banks including Mizuho Bank.

Terrenus Energy will use the proceeds for one of Singapore’s largest deployments of solar PV systems in the city-state, covering public housing estates, government buildings, and commercial and industrial facilities.

Surplus green energy will be injected into the national grid, contributing to the Singapore Government’s objective of achieving a minimum two gigawatts-peak of installed solar capacity by 2030.

Rooftop solar projects continue to be an effective solution to deliver clean power to consumers directly, and for countries to add additional renewable energy capacity. Mizuho Bank sees continued growth in portfolio financing for rooftop solar projects, supported by corporate power purchase agreements. This is driven by limited land availability and companies' pledges to achieve net-zero emissions.

At Mizuho Bank, we are deepening our commitment to sustainability by integrating it into our business strategy. Leveraging our financial expertise, we proactively offer diverse solutions, including advisory services and capital financing, to support businesses contributing to the transition to a low-carbon society.


Press contact:
Calvin Hui
Vice President, Corporate Communications
Mizuho Singapore
[email protected]

About Mizuho Financial Group
Mizuho Financial Group, Inc. is one of the largest, full-service financial institutions in the world, with approximately 60,000 employees, 150 years of banking experience, and assets of approximately JPY 200 trillion on a consolidated basis. We have a global network encompassing financial and business centers in some 35 countries/regions around the world, in addition to a nationwide network and one of the largest customer bases in Japan.

Rooted in some of the largest, most influential financial institutions in Japanese history, Mizuho has been an important part of our clients’ growth for more than a century. Our financial strength, expertise, client focused values, and unwavering support makes Mizuho a trusted banking partner.

As a full service financial group, we combine extensive industry and local market expertise, a broad geographic presence, and a comprehensive range of financing and advisory solutions. Our services include corporate, syndicated and project finance, and cover loan and debt capital markets, that address both industry and client needs.

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