Turbine maker Siemens Gamesa has increased its green credit line by €230m, through a transaction with investment bank Societe Generale.
Siemens Gamesa said it has now accumulated €1.48bn in green guarantee lines, following two transactions totalling €1.25bn earlier this year.
Siemens Gamesa chief financial officer David Mesanero said, “This deal contributes to implementing projects that benefit the environment, address climate change and are socially responsible. It further enhances our company’s firm commitment to the Sustainable Development Goals (SDG) in connection with ‘Affordable and clean energy’ and ‘Climate action’.
“Incorporating environmental, social and governance criteria into finance is another step in our commitment to creating a better future for people and the planet, by optimising financial capital in order to accelerate the transformation towards a more competitive and sustainable business model.”
In September 2019 the turbine maker added €350m of credit to its existing line of €900m ‘green’ guarantees, through a deal with BNP Paribas.
Siemens Gamesa will use the €1.48bn line to fund its business of manufacturing and selling onshore and offshore wind turbines worldwide, with a positive impact on the SDG relating to ‘affordable and clean energy’ and ‘climate action’.