Arup supports JA Solar in securing RMB 700 million in green financing

As global demand for clean energy accelerates, access to sustainable finance has become a decisive enabler for renewable energy companies expanding into international capital markets. The ability to translate strong environmental performance into credible, investor-ready financing is now central to how these businesses grow and compete.

Arup recently provided a Second Party Opinion (SPO) on the Green Financing Framework of JA Solar, one of the world’s leading photovoltaic (PV) manufacturers. The framework underpinned the company’s green financing arrangement with Hang Seng Bank, comprising RMB 100 million in green loans and RMB 600 million in green guarantees. It shows how strong sustainability performance can be converted into tangible financing outcomes and reflects the growing appetite among Chinese companies for advisory support that aligns them with international green finance requirements and opens access to a broader pool of capital.

Arup assessed JA Solar’s framework against internationally recognised standards, including the Green Bond Principles and the Green Loan Principles, covering the use of proceeds, project evaluation and selection, fund management, and reporting. Eligible project categories were also reviewed against leading domestic and international taxonomies, validating a framework that is credible, transparent and internationally aligned. Arup further provided recommendations to strengthen JA Solar’s financing readiness, drawing on benchmarks such as the IFC Performance Standards and the Equator Principles (EP4), spanning ESG policies, management systems, stakeholder engagement and performance monitoring, giving the company a stronger foundation for future green loans, bonds and other sustainable finance instruments.

Arup brings internationally grounded expertise in sustainable finance advisory, supporting clients across the full journey from sustainability strategy and framework design through to implementation. Certified by the Climate Bonds Initiative to verify green bonds and recognised by the Hong Kong Monetary Authority as an approved External Reviewer, the only consulting firm on that list, Arup provides technical assessment, standards-alignment review and verification, and specialist advice that help clients enhance transparency and build market confidence.

As green finance evolves from a compliance requirement into a strategic business enabler, demand continues to grow across the renewable energy, advanced manufacturing and export-oriented sectors. By helping clients turn sustainability commitments into credible financing frameworks, Arup supports organisations in accessing capital, building market confidence and accelerating their transition to more sustainable, low-carbon business models.