UBS
HQ: Switzerlandlisted on Coalpolicytracker.org

| Expansion | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Loans | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Underwriting | 2022 | 2023 | 2024 | 2025 | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Duke Energy CorporationDuke Capital Financing Trust I, Duke Capital Financing Trust II, Duke Energy Capital Trust II, Duke Energy Carolinas LLC, Duke Energy Florida LLC, Duke Energy Florida Project Finance LLC, Duke Energy Indiana LLC, Duke Energy Kentucky Inc, Duke Energy Ohio Inc, Duke Energy Progress LLC, PROGRESS CAPITAL HOLDINGS INC, Progress Energy Inc (based on GCEL 2025) | $68M | $71M | $75M | $82M | $37M | $150M | $108M | $75M | $333M | |||||||||||||||||||
| Korea Electric Power Corporation (KEPCO)Korea East-West Power Co Ltd, Korea Midland Power Co Ltd, Korea South-East Power Co Ltd, Korea Southern Power Co Ltd, Korea Western Power Co Ltd (based on GCEL 2025) | power | $97M | $69M | $97M | $69M | Not On GCEL Change in Company Structure | $166M | |||||||||||||||||||||
| CSX Corp | $13M | $69M | $5M | $19M | $15M | $69M | $18M | $19M | $15M | $120M | ||||||||||||||||||
| PPL CorporationKentucky Utilities Co, LG&E and KU Energy LLC, Louisville Gas & Electric Co, PPL Capital Funding Inc (based on GCEL 2025) | $36M | $80M | Not On GCEL Change in Company Structure | $116M | Not On GCEL Change in Company Structure | $116M | ||||||||||||||||||||||
| Whitehaven Coal LtdAston Resources Ltd, Narrabri Coal Operations Pty Ltd, Whitehaven WS Pty Ltd (based on GCEL 2025) | mining | $94M | Not On GCEL Change in Company Structure | $94M | Not On GCEL Change in Company Structure | $94M | ||||||||||||||||||||||
| Glencore PLCBulga Coal Management Pty Ltd, Carbones del Cerrejon Ltd, Finges Investment BV, Glencore Australia Holdings Pty Ltd, Glencore Capital Finance DAC, Glencore Finance (Bermuda) Ltd, Glencore Finance (Canada) Ltd, Glencore Finance (Europe) Ltd, Glencore Funding LLC, Glencore Group Funding Ltd, Glencore International AG, Glencore (Schweiz) AG, Hail Creek Joint Venture , Rolleston Coal Holdings Pty Ltd, Ulan Coal Mines Ltd, Wandoan Holdings Pty Ltd (based on GCEL 2025) | power, mining | $29M | $51M | $29M | Not On GCEL Change in Company Structure | $51M | $80M | |||||||||||||||||||||
| Manila Electric Company (Meralco)Atimonan One Energy Inc, Global Business Power Corp, MERALCO PowerGen Corp, San Buenaventura Power Ltd Co (based on GCEL 2025) | power | $71M | $71M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $71M | ||||||||||||||||||||||
| NRG Energy IncNRG Finance Co I LLC (based on GCEL 2025) | $47M | $3M | $9M | Not On GCEL Change in Company Structure | $56M | $3M | $59M | |||||||||||||||||||||
| Doosan Enerbility Co Ltd | $43M | $43M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $43M | |||||||||||||||||||||||
| Eneva SA | $37M | $37M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $37M | |||||||||||||||||||||||
| CenterPoint Energy IncHouston Industries Financeco LP, Reliant Energy Finance Co III, SIGECO Securitization I LLC, Southern Indiana Gas and Electric Company, Vectren Capital Corp, Vectren LLC (based on GCEL 2025) | $36M | $36M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $36M | |||||||||||||||||||||||
| Xcel Energy IncNorthern States Power Co - Minnesota, Public Service Company of Colorado, Southwestern Public Service Capital I, Southwestern Public Service Company (based on GCEL 2025) | $28M | $4M | $28M | $4M | Not On GCEL Change in Company Structure | $32M | ||||||||||||||||||||||
| Trafigura Group Pte LtdTrafigura Group Pte Ltd (based on GCEL 2023) | 0 | $12M | $17M | $12M | $17M | Not On GCEL Change in Company Structure | $29M | |||||||||||||||||||||
| The Southern CompanyAlabama Power Capital Trust I, Alabama Power Capital Trust II, Alabama Power Capital Trust III, Alabama Power Capital Trust V, Alabama Power Co, Georgia Power Capital LP, Georgia Power Capital Trust, Georgia Power Capital Trust II, Georgia Power Capital Trust III, Georgia Power Capital Trust V, Georgia Power Capital Trust VI, Georgia Power Capital Trust VII, Georgia Power Co, Southern Co Capital Funding Inc, Southern Co Capital Trust I, Southern Co Capital Trust II, Southern Co Capital Trust III, Southern Co Capital Trust IV, Southern Co Capital Trust V, Southern Co Capital Trust VI, Southern Company Gas Capital Corporation (based on GCEL 2025) | $3M | $25M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $3M | $25M | $28M | |||||||||||||||||||||
| American Electric Power Company Inc (AEP)AEP Credit Inc, AEP Generating Co, Appalachian Power Co, Indiana Michigan Power Co, Kentucky Power Co, Ohio Power Co, Public Service Co of Oklahoma, Southwestern Electric Power Company, Wheeling Power Co (based on GCEL 2025) | $10M | $13M | $13M | $10M | Not On GCEL Change in Company Structure | $23M | ||||||||||||||||||||||
| BHP Group LtdBHP Billiton Finance BV, BHP Billiton Finance Ltd, BHP Billiton Finance plc, BHP Billiton Finance (USA) Ltd, BHP Finance Ltd, Hunter Valley Energy Coal Pty Ltd, WMC Finance (USA) Ltd (based on GCEL 2025) | mining | $9M | $14M | Not On GCEL Change in Company Structure | $9M | Not On GCEL Change in Company Structure | $14M | $22M | ||||||||||||||||||||
| Tenaga Nasional Bhd (TNB)Kapar Energy Ventures Sdn Bhd, TNB Global Ventures Capital Bhd, TNB Janamanjung Sdn Bhd, TNB Power Generation Sdn Bhd, TNB Western Energy Bhd (based on GCEL 2025) | $21M | Not On GCEL Change in Company Structure | $21M | Not On GCEL Change in Company Structure | $21M | |||||||||||||||||||||||
| CEZ a.s.CEZ Finance BV, Severoceske doly AS (based on GCEL 2025) | mining | $20M | $20M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $20M | ||||||||||||||||||||||
| The AES CorporationAES Andes SA, AES Argentina Generacion SA, AES Indiana, AES Mong Duong Power Co Ltd, AES Ohio, DPL Capital Trust II, DPL Inc, Empresa Electrica Angamos SpA, Empresa Electrica Cochrane SpA, IPALCO ENTERPRISES INC, Mong Duong Finance Holdings BV (based on GCEL 2025) | $18M | $18M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $18M | |||||||||||||||||||||||
| CONSOL Energy Inc | power | $14M | $14M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $14M | ||||||||||||||||||||||
| NiSource IncNiSource Capital Markets, Inc., NiSource Finance Corp, Northern Indiana Public Service Company LLC (based on GCEL 2025) | $13M | $13M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $13M | |||||||||||||||||||||||
| Dominion Energy IncVirginia Electric and Power Co, Dominion Energy South Carolina Inc (based on GCEL 2023) | $13M | $13M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $13M | |||||||||||||||||||||||
| Enel SpAEnel Finance International NV, Enel Investment Holding BV, Endesa Financiacio?n Filiales SA, Enel Finance America LLC (based on GCEL 2023) | $8M | $8M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $8M | |||||||||||||||||||||||
| Fortis IncTucson Electric Power Co, UNS Energy Corporation (based on GCEL 2025) | $4M | $4M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $4M | |||||||||||||||||||||||
| JSW Infrastructure LtdEnnore Coal Terminal Pvt Ltd, Mangalore Coal Terminal Pvt Ltd, Paradip East Quay Coal Terminal Pvt Ltd (based on GCEL 2025) | infrastructure | $4M | Not On GCEL Change in Company Structure | $4M | Not On GCEL Change in Company Structure | $4M | ||||||||||||||||||||||
| China Three Gorges CorporationInner Mongolia Three Gorges Mengneng Energy Co Ltd, Three Gorges Bazhou Ruoqiang Energy Co Ltd, Three Gorges Capital Holdings Co Ltd, Three Gorges Finance I (Cayman Islands) Ltd, Three Gorges Finance II (Cayman Islands)Ltd (based on GCEL 2025) | power, mining | $3M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $3M | $3M | |||||||||||||||||||||
| Origin Energy LtdOrigin Energy Finance Ltd (based on GCEL 2025) | $2M | Not On GCEL Change in Company Structure | Not On GCEL Change in Company Structure | $2M | $2M |