HSBC launches $4 billion clean energy credit facility

HSBC launches $4 billion clean energy credit facility

HSBC has launched a $4 billion credit facility in mainland China to support clean energy and low-carbon companies scaling internationally, with Vietnam a key target.

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The initiative was announced on May 25. The Sustainability and Transition Credit Facility will offer financing to eligible mainland China businesses across sectors including clean power, electrification of transport, data centres, and AI.

The facility reflects HSBC’s focus on supporting companies to transition and enable innovation, growth, and opportunity, according to the bank.

China accounts for about 47 per cent of global cleantech exports and roughly two-thirds of global solar and battery exports. Global electric vehicle sales are expected to reach 26 million in 2026, while electricity use from data centres is projected to nearly double from 485 TWh in 2025 to 945 TWh by 2030.

This expansion is supported by the ASEAN-China Free Trade Area 3.0 Upgrade Protocol, signed during the 47^th ASEAN Summit in Kuala Lumpur last October. The agreement extends China-ASEAN trade cooperation into the green economy, digital economy, and supply chain connectivity for the first time

Vietnam stands to benefit from increased availability of clean energy technologies, as 91 per cent of new wind and solar projects commissioned in 2024 were cheaper than the cheapest available fossil fuel alternative globally.

At the 48^th ASEAN Summit on May 7-8 in the Philippines, the region’s leaders reiterated their commitment to accelerating the development of the ASEAN Power Grid and a more integrated, secure, and sustainable energy future.

Vietnam presents a significant opportunity within this initiative. Renewables accounted for nearly 28 per cent of the country's total installed power capacity in 2025, while EV sales penetration reached approximately 40 per cent – one of the highest in ASEAN and among the fastest adoption rates globally.

Decision No.768/QD-TTg on national power sector development projects total investment of $134.3 billion in power generation and transmission by 2030, creating substantial demand for clean energy technologies and battery materials.

As companies in China look to expand internationally to meet demand, HSBC’s new facility aims to help bring clean technologies and solutions to market more efficiently, contributing to decarbonisation efforts across the globe. HSBC will extend credit limits for eligible companies, streamline credit approvals, and develop tailored financial solutions to meet individual business needs.

Tim Evans, CEO and head of Banking, HSBC Vietnam said, “Vietnam's clean energy transition is happening at pace and at scale right now. The country's rapid EV adoption, its ambitious power development targets, and its growing openness to sophisticated foreign investment make it a compelling destination for Chinese clean energy companies looking to expand internationally. HSBC is uniquely positioned to support that flow of capital and technology, and this facility strengthens our ability to support this important trend.”

Natalie Blyth, global head of Sustainable Finance and Transition, HSBC said, "China is home to some of the world’s most dynamic low-carbon companies. These businesses are setting new benchmarks in high-end manufacturing while playing a vital role in transforming the transition ecosystem."

“As they scale internationally, they need financial partners with the global reach and expertise to support them. This facility is designed to do exactly that – and no bank is better placed than HSBC to help clients find, access and navigate growth opportunities across global ecosystems,” Blyth added.

VIR