ANZ has announced the provision of a significant green structured asset financing facility to subsidiary companies associated with ComfortDelGro Corporation Australia (CDC). The funding will support CDC Victoria, a CDC subsidiary, in operating electric battery buses as part of the Victorian Government’s Zero Emission Bus Transition Plan. CDC Victoria is among the recipients of the government’s Metropolitan Zero Emission Bus Franchises.
This transaction is one of the first green structured asset loans connected to the Victorian Government’s plan and represents CDC Victoria’s initial green loan deal. The loan is structured according to the Asia Pacific Loan Market Association (APLMA) Green Loan Principles.
The facility will help CDC Victoria deploy more than 370 battery electric buses across 251 public and school routes, which covers about 20 percent of Melbourne’s Metropolitan Network under a decade-long agreement with Transport for Victoria. Funding will also go toward charging infrastructure and depot electrification as part of the transition plan.
The new fleet aims to help replace 600 diesel buses with zero-emission vehicles, with an expected reduction in carbon emissions by approximately 45,000 tonnes each year. Over the course of its contract, CDC Victoria plans to shift its entire fleet to zero-emission operations by 2034.
Sara McCluskey, Head of Diversified Industries at ANZ Institutional, stated: “This transaction demonstrates how targeted financing can accelerate the decarbonisation of public transport in Victoria. We’re pleased to support CDC Victoria in delivering cleaner, more sustainable mobility solutions for communities across the state.
“By combining our structured asset finance capabilities with deep sustainable finance expertise, ANZ was able to tailor a solution that aligns with both CDC Victoria’s operational needs and the Victorian Government’s Zero Emission Bus Transition Plan. It’s a great example of how financial innovation can help drive real progress toward a net zero future, while supporting essential public services and creating lasting benefits for Victorians.”
Jeff Wilson, CEO of CDC Victoria said: “This green structured asset finance facility has been instrumental in enabling our transition to zero-emission operations in metropolitan Melbourne. It will not only accelerate the decarbornisation of public transport across Melbourne, support both our operational goals and the Victorian Government’s ambitious climate targets but also deliver more sustainable mobility for communities throughout the state. We’re proud to help shape a greener future for Victoria.”