UOB supports SP Group’s sustainable energy solutions expansion in Thailand with green project financing
Bangkok, 30 July 2026 - UOB Thailand, leveraging its strong regional project finance and sustainable finance capabilities, has successfully supported SP Group (SP) with a green project finance facility of up to THB1.65 billion (approximately USD50 million). The financing marks a key milestone in supporting SP’s expansion in the provision of clean energy solutions in Thailand.
As part of the overall financing solution, UOB Thailand is also providing THB interest rate hedging arrangements to help mitigate interest rate volatility and enhance cash flow certainty over the life of the financing.
The financing underscores UOB Thailand’s role as a regional banking partner to leading infrastructure and energy clients such as SP Group, supporting cross‑border capital deployment and development of sustainable growth platforms across ASEAN.
The Bank structured the facility as a senior secured green project finance loan, aligned with recognised green financing principles, to support SP’s long‑term expansion strategy in Thailand. SP owns and operates a diversified portfolio of green energy infrastructure assets in Thailand. Proceeds are used to finance eligible green infrastructure assets on a non-recourse basis and to support the transition of projects from development to long‑term operations.
Mrs Vira-anong C. Phutrakul, Deputy CEO and Head of Wholesale Banking, UOB Thailand, said “This transaction demonstrates UOB’s ability to support regional clients with scalable, multi‑asset financing solutions. As ASEAN companies expand across borders, UOB is well‑positioned to provide on‑the‑ground expertise combined with regional network strength to support sustainable infrastructure development.”
Mr Benjamin Tay, Chairman, SP Power Energy (Thailand) Limited, said “UOB has been a key banking partner, providing financing for SP Group in Singapore and now, supporting our expansion in Thailand. This partnership strengthens our commitment in driving the energy transition for our customers while supporting Thailand’s national sustainability objectives.”
Strengthening UOB–SP Group partnership in ASEAN
SP Group is one of Asia‑Pacific’s leading energy utilities providers with a growing footprint in sustainable energy solutions across the region. The transaction reflects the strong banking partnership between UOB and SP, facilitating SP’s expansion in Thailand by delivering financing solutions that match the scale, tenor, and risk profile of clean energy infrastructure assets.
UOB provided SP with its maiden green loan facility in 2021 and for the super low energy Labrador Tower development in Singapore in 2023.
UOB will continue to play an active role in mobilising capital for sustainable infrastructure, while SP Group remains focused on disciplined growth and the deployment of green infrastructure assets that support long-term value creation and contribute meaningfully to decarbonisation in Thailand.
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About UOB
UOB is a leading bank in Asia. Operating through its head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia, Thailand and Vietnam, UOB has a global network of more than 470 branches and offices in 19 markets in Asia Pacific, Europe and North America. Since its incorporation in 1935, UOB has grown organically and through a series of strategic acquisitions. Today, UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings.
For nine decades, UOB has adopted a customer-centric approach to create long-term value by staying relevant through its enterprising spirit and doing right by its customers. UOB is focused on building the future of ASEAN – for the people and businesses within, and connecting with, ASEAN.
The Bank connects businesses to opportunities in the region with its unparalleled regional footprint and leverages data and insights to innovate and create personalised banking experiences and solutions catering to each customer’s unique needs and evolving preferences. UOB is also committed to help businesses forge a sustainable future, by fostering social inclusiveness, creating positive environmental impact and pursuing economic progress. UOB believes in being a responsible financial services provider and is steadfast in its support of art, social development of children and education, doing right by its communities and stakeholders.
About UOB Thailand
UOB Thailand is a fully-licensed commercial bank with its network of 140 branches, 342 owned ATMs and access to 56,800 shared ATMs across Thailand (as at 31 December 2025). UOB Thailand has consistently been amongst the top rated Thai banks according to Moody’s Investor Service (A3 for Long-Term Bank Deposits rating) and Fitch Ratings (A- for Long-Term Issuer Default Rating, 'AAA(tha)' for National Long-Term Rating).
About SP Group
SP Group is a leading utilities provider in Asia Pacific, empowering the future of energy through low-carbon, smart solutions. It owns and operates electricity and gas transmission and distribution networks in Singapore and Australia. As Singapore’s national grid operator, SP Group serves approximately 1.7 million industrial, commercial, and residential customers with world-class transmission, distribution, and market support services.
Beyond traditional utilities, SP Group delivers integrated sustainable energy solutions across Singapore, China, Thailand, and Vietnam. These solutions include district cooling and heating, renewable energy, EV charging infrastructure, and digital energy platforms tailored for districts, communities, and commercial and industrial customers. For more information, please visit spgroup.com.sg or follow us on Facebook, LinkedIn and Instagram.
