Prime Infrastructure Capital Inc. and its waste business unit, Prime Integrated Waste Solutions Inc. (PWS), received the “Green Project of the Year” from The Asset Triple A Sustainable Infrastructure Awards 2024 for their project financing transaction with HSBC.
Prime Infra and PWS were recognized for utilizing a green loan from HSBC to finance its acquisition and transformation of a waste management facility in Cebu.
Prime Infra head of treasury Emma Villa del Rey and treasury manager Kaila Marie Almendarez received the award during a ceremony in Singapore on July 9, 2024.
“This award affirms our commitment to partnering with organizations who have a strong sustainability agenda. We are grateful to HSBC for providing the support needed to initiate our agenda of delivering proper and modern waste management solutions,” said Prime Infra president and chief executive Guillaume Lucci.
The Green Project of the Year award cited HSBC as the transaction’s green loan structuring bank and sole lender, and Picazo Buyco Tan Fider & Santos as the legal adviser.
PWS was established in response to the increasing demand for proper waste management and resource recovery solutions in industrialized and fast-growing cities in the Philippines.
Using state-of-the-art equipment for waste segregation and storage, PWS’ modern materials recovery facility (MRF) in Cebu processes 1,000 tons of municipal solid waste daily.
The objective of PWS is to recover and recycle 80 percent to 90 percent of total waste received in its facilities, significantly reducing landfill volumes, and thereby lessening organic waste that end up decomposing and producing harmful methane emissions.
Prime Infra is Filipino businessman Enrique Razon Jr.’s infrastructure arm that focuses on building assets that support the most urgent sustainability priorities—energy, access to clean water and waste management.
