DBS provides first green loan to finance biomass power plant in Singapore

In Singapore, DBS, in partnership with homegrown renewable power generator Rexus Bioenergy, announced the company’s first green loan to finance the construction of a biomass power plant in Jurong. Upon completion in 2H2026, the RExus Waste Wood-to-Energy Plant will also explore the potential of carbon capture technology in advancing Singapore’s net-zero ambitions. DBS acted as the Financial Advisor and Mandated Lead Arranger for the project financing.
According to estimates by the National Environment Agency, Singapore generated over 703,000 tons of plant and wood waste in 2023, approximately 10% of the total waste generation – with volumes expected to rise as the nation’s tree population continues to grow. Scaling up solutions to better address plant and wood waste will help to reduce the burden on the country’s landfills and contribute towards a more sustainable future. With this in mind, the facility will incorporate a circular economy approach to reduce waste and pollution.
Waste wood–including wooden pallets and packing materials from the logistics industry, or wooden construction materials amongst others – will be the main fuel source for the 13-megawatt facility. The plant will process at least 100,000 tonnes of plant and wood waste per year at the outset.