HSBC Holdings is looking to buy stakes in companies engaged in wind and solar ventures in China and India as it builds up its renewable energy portfolio, a bank official said.
 
"The Asian market is now becoming more attractive from an investor's perspective," said Siobhan Smyth, managing director and head of renewable energy project and export finance at HSBC.
 
"Within Asia, we are seriously looking at India and China.
 
We're primarily looking at wind," Smyth told a conference in Hong Kong.
 
Security of energy supply and the need for infrastructure are the main drivers for investment in Asia's renewable sector, Smyth said.
 
The bank's bigger investments in renewable projects thus far are in the US and UK.
 
Last year, HSBC committed roughly STG50 million (STG1 = RM5.20) to renewable energy projects through a stake in a British company.
 
HSBC has said it aims to develop a portfolio of renewable projects on public land across the UK to generate 500MW of power in five years through that partnership.
 

Last update: 16 February 2009 at 06:48

Keywords : News, India News, HSBC, eyes, wind, solar, investments, China, India, renewable energy, US, UK.

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