ComfortDelGro Australia gets ‘green’ loan to fund hybrids

ComfortDelGro Australia has secured a ‘green’ loan from OCBC Bank to finance a fleet of 50 hybrid buses in the state of Victoria.
By Ben Spencer February 24, 2020 Read time: 1 min
ComfortDelGro Australia receives funding for hybrid buses (Source: ComfortDelGro Corporation)

The manufacturer says each bus features a Volvo Paralell Hybrid driveline which reduces nitrogen oxide and particulate matter by up to 50% and lowers fuel consumption by up to 39% in mixed traffic.

Elaine Lam, head of global corporate banking at OCBC, says: “We hope this green loan by ComfortDelGro sends a positive message to encourage peer industry players to take steps to support sustainable urban development through green financing options.”

Delivery of the hybrid buses has already started with the last batch expected in mid-2022.

 

Mass Transit & MaaS

Related Content

  • December 20, 2013
    Green buses for Kazakhstan
    The European Bank for Reconstruction and Development (EBRD) is to make a loan of up to US$18.8 million to Avtobusnyi Park Kyzylorda, a municipal public transport company in the city of Kyzylorda, for purchasing of up to 100 green buses that run on CNG (compressed natural gas), the depot workshop equipment and GPS dispatching system. Krymbek Kusherbayev, of Kyzylorda Oblast, said: “Our citizens deserve better urban transport services. Today the local authorities and SPK Baikonur are pleased to receive EB
    Read More
  • January 9, 2018
    Authorities switch on to all electric buses as costs tumble
    Alan Dron looks at changes in bus propulsion as cities look to improve air quality and seek to reduce maintenance costs. Despite the ending of various incentives to adopt alternative fuels, the introduction of electric buses by US transit authorities is picking up speed as performance improves, costs drop and air quality considerations become increasingly significant. More US bus manufacturers are introducing zero-emission models and some recent contracts will see many more passengers getting their first
    Read More
  • April 25, 2012
    Alternative fuel buses gaining significant traction
    According to a recent report from Pike Research, the trend toward cleaner transit buses will continue over the next several years, and by 2015 the cleantech market intelligence firm forecasts that alternative fuel vehicles will represent more than 50 per cent of the 64,000 total transit buses that will be delivered worldwide during that year, up from 28 per cent of total bus deliveries in 2010.
    Read More
  • September 11, 2020
    Uber clean-up - those all-important facts and figures
    Ride-hailing giant says it can switch to all-electric vehicles 'in any major city' by 2030
    Read More

Highlighted Content