Siemens Gamesa raises €1.5bn in ‘green’ guarantees

It will use the green guarantees for its global business of manufacturing onshore and offshore wind turbine generators

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Siemens Gamesa has raised nearly €1.5 billion (£1.3bn) in “green” guarantees in less than a year as part of its commitment towards sustainability and tackling climate change.

It has just completed a deal with Societe Generale to convert a €230 million (£193m) line to “green”, following the arrangement of €1.25 billion (£1bn) arranged with two other banks previously.

They qualify as ‘green’ due to the contribution to the UN Sustainable Development Goals (SDGs).

Siemens Gamesa said it will use the green guarantees for its global business of manufacturing onshore and offshore wind turbine generators.

CFO David Mesonero added: “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.”

Siemens Gamesa has installed more than 99GW of wind capacity worldwide, which generates enough electricity to power nearly 85 million households in Europe.

It also helps reduce around 260 million tons of emissions a year – equivalent to planting more than four billion trees or taking 170 million diesel cars off the road.