Cathay United Bank, the first bank in Taiwan to finance offshore wind and solar energy projects, on Monday won four awards — “Project Finance House of the Year,” “Renewable Energy Deal of The Year Solar,” Renewable Energy Deal of The Year Battery” and “Renewable Energy Deal of The Year Wind” — from the well-known international financial journal The Asset Magazine, recognizing the bank’s contributions to renewable energy development and its financing initiatives for multiple sustainable energy projects.
“Cathay United Bank is relentlessly committed to achieving a sustainable financial sector,” bank executive vice president Michael Wen said.
“With a strategy of paying equal attention to domestic and international projects, the bank is always exploring possibilities in the financialization of new energy technologies,” he said. “We are truly honored to receive four major awards from The Asset.”
As the national trailblazer in green finance, Cathay United Bank has helped to develop the domestic green energy market and invested in global opportunities. Financing the construction of the largest wind farm in Vietnam — for which Cathay United Bank received the “Renewable Energy Deal of the Year Wind” award — was the first collaboration between a Taiwanese financial institution and the Asian Development Bank in project funding.
That marked a milestone for green energy investments by the nation’s banking industry in the Southeast Asian market and global investments generally.
In addition, Cathay United Bank has won accolades for contributing to the government’s fisheries and electricity symbiosis project in Chiayi County, through project financing with other domestic banks.
As one of the few Taiwanese financial institutions to receive acclaim from international media over renewable energy investments, Cathay United has achieved a landmark in the nation’s project financing.
Furthermore, the bank accomplished a breakthrough in changing the nation’s pricing system for energy storage solutions by working in cooperation with experts, creating new financial models and joining forces with foreign partners.
Through these innovative approaches, Cathay United Bank assumed a leading role in financing Taiwan’s energy storage capabilities.
In striving toward realizing the government’s national renewable energy and New Southbound Policy goals, Cathay United Bank did not neglect to implement diversification of services, management internationalization and social responsibility. The bank’s strategy of innovation and leadership in green energy financing has won plaudits from the international banking community, as evidenced by the awards.
The awards also marked the second consecutive time that Cathay United Bank received the “Renewable Energy Deal of the Year Solar” award.
The bank is to continue to utilize its experience in international collaboration to benefit the nation’s banking sector and take a leading role in the sustainable development of financial services.