ESR closes the first sustainability linked loan in Hong Kong for a Brownfield data centre project with support from CLP Power

We are delighted to announce the closing of the first Sustainability-Linked HK1.6bn loan in Hong Kong for a brown field data centre project on behalf of ESR who had the support of CLP Power. 
Crédit Agricole CIB acted as the Sole Sustainability Advisor and Coordinating Bank, and Facility and Security Agent. 
 
ESR will use the HK$1.6 billion SLL to fund the conversion of a building in Kwai Chung, one of the major data centre clusters in Hong Kong, into the modern and sustainable ESR Kwai Chung Data Centre HK1 which has a design IT power load of 21.3 megawatts. The brownfield site will adopt electrification during the construction phase which will enable the construction site to be diesel-generator-free. To date, ESR Group has closed a total of seven SLLs with approximately US$4 billion, as it continues to integrate ESG into all aspects of its financial management, operations and development. 
 
ESR is APAC’s largest real asset manager powered by the New Economy and the third largest listed real estate investment manager globally. With approximately US$150 billion in total assets under management (AUM), ESR’s fully integrated development and investment management platform extends across key APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand and Southeast Asia, representing over 95% of GDP in APAC, and also includes an expanding presence in Europe and the U.S. 
 
CLP Power Hong Kong Limited (CLP Power) is the Hong Kong utility subsidiary wholly owned by CLP Holdings Limited, a company listed on the Hong Kong Stock Exchange and one of the largest investor-owned power businesses in Asia. CLP Power operates a vertically integrated electricity supply business in Hong Kong, and provides a highly reliable supply of electricity and excellent customer services to more than six million people in its supply area.