Global law firm Norton Rose Fulbright has been appointed to advise lenders on the financing of a new 670MW hydrogen-ready combined cycle gas turbine (CCGT) power plant in Singapore. The project, spearheaded by PLM Power Pte. Ltd., a subsidiary of PacificLight Power Pte. Ltd., is set to support Singapore’s shift towards a lower-carbon energy system, with construction slated to begin in 2026 and operations expected by 2029.
The financing is structured as an “energy transition facility” and involves several major financial institutions, including Malayan Banking Berhad, DBS Bank Ltd, Oversea-Chinese Banking Corporation Limited, and United Overseas Bank Limited. Maybank Securities Pte Ltd is acting as the financial adviser for the project.
Aditya Rebbapragada and Nick Merritt, partners at Norton Rose Fulbright, led the transaction team, with support from Andrew Digges, Yu-En Ong, and associate Alden Tan. Chou Ching of Rajah & Tann Singapore LLP provided advice on real estate aspects. Rebbapragada noted the significance of the project, stating, “This financing marks an important milestone in the development of a next-generation power asset in Singapore.”
The new facility is expected to enhance Singapore’s energy security whilst promoting cleaner energy. Merritt emphasised the plant’s role in creating a resilient, diversified power system, combining reliable domestic generation with sustainability benefits. Norton Rose Fulbright is recognised for its expertise in renewable energy projects, particularly in the Asia Pacific region.
