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Treasury & Capital Markets / Europe
DBS signs S$100 million loan to green UK bus fleet
Proceeds will be used to purchase electric buses for ComfortDelGro’s London unit Metroline
The Asset 22 Apr 2024

ComfortDelGro Corporation, a Singapore-based multinational transport operator, has secured a S$100 million (US$73.47 million) financing facility to decarbonize its bus fleet in the United Kingdom.

Proceeds of the green loan will be used to purchase 135 electric buses for ComfortDelGro’s wholly-owned subsidiary Metroline – the fourth-largest scheduled bus operator in London, covering about 17% of the city’s scheduled bus services.

The 77 double-deck and 58 single-deck electric buses will replace 135 internal combustion engine-powered buses and are projected to avoid approximately 9,900 tonnes of carbon dioxide equivalent tailpipe emissions annually.

The green loan is the latest in ComfortDelGro’s ongoing efforts to transition its global bus fleet to 50% cleaner energy vehicles by 2030 and 100% by 2050.

The company operates in12 countries: Singapore, Australia, the UK, New Zealand, China, Ireland, France, Malaysia, Spain, Portugal, Greece, and the Netherlands. Its extensive network spans public transport including buses and rail, point-to-point transport with taxis and private hire cars as well as business-to-business mobility solutions.

"As a leading multi-modal transport operator, we are keen to drive sustainability through the businesses we operate. This green loan from DBS enables us to advance our sustainability goals, driving positive impact for the environment and the communities we serve,” says Cheng Siak Kian, managing director, group chief executive officer of ComfortDelGro. 

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