Keppel, DBS join hands to scale up sustainable solutions in Asia
The partners will focus on India.
Keppel Corporation and DBS bank have inked a memorandum of understanding (MoU) to jointly scale up sustainable urbanisation and digitalisation solutions in Asia.
In a bourse filing, Keppel said its collaboration with DBS “aims to accelerate the adoption of energy optimisation and sustainable solutions across energy-intensive segments including healthcare, hospitality, as well as commercial and industrial real estate.”
The collaboration will focus on India, one of DBS’ six core markets and one of the bank’s top three markets for sustainable finance.
“The country’s rapid rate of urbanisation is expected to have a key impact on its energy usage and global energy trends,” said the companies in a joint statement.
Under the MoU, businesses can access Keppel’s suite of Energy-as-a-Service solutions including high-efficiency cooling, sustainable energy and storage, distributed solar photovoltaic systems, and electric vehicle charging infrastructure.
“Through Keppel’s subsidiary, M1, the collaboration will explore ways to enhance and support the digitalisation journey of businesses in Singapore. The partnership also includes an e-waste recycling initiative through AsiaPac, a subsidiary of M1, where DBS customers can trade in laptops,” the companies stated.
DBS, on the other hand, will offer financing solutions to help clients overcome potential cost barriers associated with the implementation of such technologies.