MUFG is proud to have been awarded Lender of the Year at the 2022 Wind Investment Awards, recognised in this category for the third year in a row.
The annual Wind Investment Awards from A Word About Wind is a platform to celebrate best practice in the global onshore and offshore wind industry, incorporating innovation, financing, project development and asset management.
During 2021, MUFG committed over USD $12 billion to the renewables sector as a whole, with a number* of these being first-of-a kind, innovative projects. To date, MUFG has financed more than 550 renewable generation transactions.
This year marks another milestone in the global commitment to climate change, and MUFG continues to work with clients globally to deliver innovative solutions which pave the way towards a low-carbon society.
The 2022 Wind Investment Awards ceremony was held in London on May 26, following the Financing Wind Europe conference.
Alex Wernberg, Managing Director of Project Finance and Head of U.S. Power, commented:
"Wind has been a vital component of the energy mix in the transition to sustainable sources, and we are proud to be recognized for our role as a leading contributor to the financing of wind-energy infrastructure for the third consecutive year by the annual Wind Investment Awards."
Colin Chen, Head of ESG Finance in APAC, commented:
"This is a strong reaffirmation of MUFG's leadership in the wind sector, which would have been impossible if not for the support of our clients and partners.
"In Asia Pacific, MUFG's ongoing work as a premier advisor and lender in wind power continues to drive growth and innovation in this space and adds a much-needed lift to the region's transition to net zero. We will accelerate efforts to align our sustainability commitment with our clients' so that we can effect more meaningful change together."
Stephen Jennings, Head of Energy within the Structured Finance Office for EMEA, said:
"It was an incredibly proud moment to receive this accolade for the third year running and to share the evening with many of the clients who we have worked with on projects that contributed to our success this year.
"MUFG continues to push into new markets and new sectors, such as floating offshore wind, and we need to leverage our global reach to ensure we maintain our market leading position."
Rob Ward, Head of Project Finance and ESG Finance for MUFG in Oceania, commented:
"Winning this award three years in a row is truly an honour and recognises our strong track record as a global project finance house and ESG financier.
"I have no doubt this will further mobilise us to leverage our global network and expertise in support of our clients as well as Asia Pacific's transition towards greater climate resilience."
*The transactions globally which contributed to this win include:
- Vineyard Wind Project – This is the first large-scale project finance offshore wind project to reach financial close in the North American Project Finance market, a landmark accomplishment in advancing offshore wind energy ambitions in the United States. This transaction won the “Global ESG Deal of the Year" at the PFI Awards 2021.
- Coram Wind (Double C) – MUFG served as Coordinating Lead Arranger, Joint Lead Arranger, Bookrunner, Administrative Agent, Collateral Agent, Depositary Bank, and Hedge Provider on Starwood's acquisition of Coram California Development, L.P., a 102 MW operating wind project located in Kern County, California.
- Panorama Wind – MUFG served as a Coordinating Lead Arranger, Sole Bookrunner, Administrative Agent, Collateral Agent, and Depository Bank on the construction and back-leverage financing of the 145 MW Panorama Wind project in Weld County, Colorado.
- Zhong Neng Offshore Wind Farm – This Greenfield 298MW Offshore Wind Farm located in Changhua, Taiwan. It was the first offshore wind project in APAC to raise green financing in line with their Green Loan Principles, with MUFG acting as the Green Loan Coordinator.
- AGEL Hybrid Renewable Project – This project is the first of its kind to combine wind and solar PV together to be constructed under the India government Ministry of New and Renewable Energy (MNRE)'s hybrid program. It is also the first and largest portfolio hybrid renewable project to achieve financial close in India, and one of the largest globally.
- Dogger Bank C – A Greenfield 1,200MW offshore wind farm in the UK, which, when fully completed in 2026, will be able to produce 6TWh of renewable electricity, totalling 18TWh annually – enough to supply 5% of the UK's demand and equivalent to powering six million UK homes each year
- Provence Grand Large – This landmark 25MW floating offshore wind pilot project is the first in France and first floating offshore wind farm to have successfully closed a limited-recourse financing worldwide.
- Rye Park Wind Farm – This is the largest renewable energy platform in Australia, and MUFG was the only bank to have financed all of the renewables projects within both the acquirer and target groups.
- Dulacca Wind Farm – With 43 turbines, this wind project will have a total nameplate capacity of 180MW. This success represents MUFG's third wind farm financing closed with global renewable energy company RES in as many years, the previous two being Murra Warra Wind Farm (Stage 2) and Murra Warra Wind Farm.
- Kaban Wind Farm – This project will have 28 turbines and a total nameplate capacity of 156.8MW. MUFG was among five Mandated Lead Arrangers as well as being awarded with Facility Agent and Security Trustee roles.