SINGAPORE - Seatrium, a company focusing on renewable energy and maritime decarbonization, has secured a green revolving loan of SGD 400 million from United Overseas Bank (OTC:UOVEY) (UOB). This financial boost is aimed at propelling the company's growth in sustainable energy sectors and supporting its commitment to environmental initiatives.
The loan aligns with Seatrium's strategic goal to dedicate 40% of its net order book to renewable energy projects by the year 2030. In the previous year, Seatrium successfully obtained over SGD 2 billion in financing, underscoring its ongoing efforts to prioritize sustainability within its operations.
Adrian Teng, a representative from Seatrium, expressed gratitude for UOB's backing, highlighting the bank's crucial role in the company's journey towards sustainable development and energy transformation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.