Execution of Additional Financing Agreement for Rooftop Solar Power Project in Singapore

News provided by

Tokyo Electric Power Company Holdings, Inc.

17 Dec, 2025, 14:56 CST

TOKYO, Dec. 17, 2025 /PRNewswire/ -- Tokyo Electric Power Company Holdings, Inc. (hereinafter "TEPCO HD") is pleased to announce that, on December 4, 2025, a Special Purpose Vehicle (hereinafter "SPV") jointly established by TEPCO HD and ESR Group Limited (hereinafter "ESR") for the implementation of a rooftop solar power project has entered into an additional financing agreement valued at 13.5 million Singapore dollars (approximately 1.6 billion yen) with Bank SinoPac (incorporated in Taiwan with Limited Liability) *.

The funds provided under this agreement, structured as project financing, will be allocated to the development of multiple rooftop solar power facilities planned for construction in Singapore, with a total capacity of approximately 20MW.

On May 15 of this year, a financing agreement was signed with Bank SinoPac (announced on June 5, 2025). While that agreement provided financing for rooftop solar power facilities already in commercial operation, this new agreement will fund rooftop solar power facilities scheduled for future construction.

Financing during the construction period (construction loan) for portfolio assets requires more stringent risk management than financing for single assets. Accordingly, the signing of this financing agreement is understood to reflect both the soundness of the project and the creditworthiness of the SPV established by TEPCO HD and ESR.

Through its wholly-owned subsidiary TEPCO Global Energy Pte. Ltd., TEPCO HD will continue advancing the development of a total capacity of 100MW of rooftop solar power in the Asia-Pacific region. By leveraging renewable energy solutions developed, we aim to support our customers in adopting clean energy and contribute to the creation of a carbon neutral society.

*Bank SinoPac (BSP)

BSP is a wholly-owned subsidiary of SinoPac Financial Holdings Company Ltd (TWSE: 2890), currently operating through 125 branches in Taiwan and 5 branches in Hong Kong, Macau, Los Angeles, Ho Chi Minh City and Hanoi (representative office). Bank SinoPac (China), BSP's subsidiary, launched operations in 2014. Headquartered in Nanjing, Bank SinoPac (China) is the first Taiwanese-invested bank incorporated in China. BSP has so far successfully facilitated over 10 green energy power plant projects, including solar and small hydropower plants, in regions such as Hong Kong, Vietnam, and Cambodia.

About TEPCO

Tokyo Electric Power Company Holdings, Inc. (TEPCO HD) is Japan's largest power company group and comprises four independent business entities: TEPCO Fuel & Power, Inc., TEPCO Power Grid, Inc., TEPCO Energy Partner, Inc., and TEPCO Renewable Power, Inc. The Group generates, distributes and sells electricity and other types of energy principally in Japan's Kanto region, which includes its two most populous urban centers, Tokyo and Yokohama. The 38,121 employees of TEPCO HD and its consolidated subsidiaries (as of March 31, 2024) are committed to providing safe, reliable power as well as fulfilling their responsibilities to communities.

TEPCO Group is expanding its renewable energy business, including the provision of hydro-electric and wind power, and its power transmission and distribution business in markets around the world. It has set a new strategic goal of making entire cities and areas carbon-neutral. TEPCO Group aims to deliver renewable energy stably and efficiently to end users by leveraging its technology and expertise.