Arup has helped manufacturer JA Solar secure RMB 700 million in green financing from Hang Seng Bank.
The consultancy provided a Second Party Opinion (SPO) on JA Solar’s Green Financing Framework, underpinning an arrangement comprising RMB 100 million in green loans and RMB 600 million in green guarantees.
JA Solar is manufacturer of solar photovoltaics.The financing arrangement is intended to align the company’s sustainability performance with international green finance requirements, opening access to a broader pool of capital.
Arup assessed the framework against internationally recognised standards, including the Green Bond Principles and the Green Loan Principles, covering the use of proceeds, project evaluation and selection, fund management, and reporting. Eligible project categories were reviewed against domestic and international taxonomies.
The firm also provided recommendations to strengthen JA Solar’s financing readiness, drawing on benchmarks including the IFC Performance Standards and the Equator Principles (EP4), spanning ESG policies, management systems, stakeholder engagement and performance monitoring.
Arup is certified by the Climate Bonds Initiative to verify green bonds and is recognised by the Hong Kong Monetary Authority as an approved external reviewer – the only consulting firm on that list.
Ling-fei Wang, China environment, climate and sustainability services leader at Arup, said: “For outbound Chinese clients, international financing increasingly requires the integration of technical robustness, sustainability performance and sustainable investment considerations. Arup is well placed to accompany clients on this journey by bringing these perspectives together in a practical and internationally aligned way.”
Image credit: StudioFI – Shutterstock
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