ANZ today announced it has provided a major green structured asset financing facility to subsidiary companies associated with ComfortDelGro Corporation Australia (CDC), supporting the delivery of an electric battery bus operation under the Victorian Government's Zero Emission Bus Transition Plan. CDC Victoria, a subsidiary of CDC, has been selected as one of the recipients of the Victorian Government's Metropolitan Zero Emission Bus Franchises.
This transaction is among the first green structured asset loans linked to the Victorian Government's Zero Emission Bus Transition Plan and marks CDC Victoria's first green loan transaction, structured in alignment with the Asia Pacific Loan Market Association (APLMA) Green Loan Principles.
The facility will support CDC Victoria in deploying over 370 battery electric buses on 251 public and school routes, covering about 20 per cent of Melbourne's Metropolitan Network under a 10-year agreement with Transport for Victoria. It will also fund charging infrastructure and depot electrification as part of the Victorian Government's Zero Emission Bus Transition Plan.
These buses will help meet the government's target to replace 600 diesel buses with zero-emission vehicles, reducing carbon emissions by an estimated 45,000 tonnes annually. Over the contract period, CDC Victoria will gradually transition its fleet to 100% zero-emission operations by 2034.
Head of Diversified Industries, ANZ Institutional, Sara McCluskey, said: "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."
CDC Victoria CEO, Jeff Wilson 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."
