Siemens Gamesa Reaches €1.72 bn in Green Guarantee Lines in 2019

Siemens Gamesa has announced that in less than a year, and aligned to its commitment to sustainability it has accumulated €1.72 billion in green guarantee lines

Siemens Gamesa recently extended a guarantee line from Danske Bank to EUR 150 million from an initial EUR 100 million and included Sustainable Development Goals (SDG) criteria. Likewise, the Company has signed and also included similar conditions for a new EUR 140 million guarantee line from Mizuho Bank Europe NV. In less than a year, and aligned to its commitment to Sustainability, it has accumulated EUR 1.72 billion in green guarantee lines. The firm will use this to support its business of manufacturing and selling onshore and offshore wind turbines worldwide, with an impact on the Sustainable Development Goals relating to “Affordable and clean energy” and “Climate action.”

“Becoming more sustainable and competitive is clearly feasible and positive, and we aim to do it at every step we take. Sustainability and ESG principles are key at every decision, including in our funding and financing strategy” said David Mesonero, CFO of Siemens Gamesa.

The firm has installed over 99 GW of wind capacity worldwide, which produces enough clean energy to power nearly 85 million European households. In this way, the company contributes to eliminating 260 million tons of CO₂ emissions each year, the equivalent of planting over 4 billion trees. 

The firm also stated that it also supports global climate protection goals and has adopted the global initiative to decarbonise economies. Siemens Gamesa is steadily replacing conventional emission-intensive power sources with renewable energies in its operations. 

Last month, the company had announced that it has accumulated 1.48 billion euro in green guarantee lines in less than a year after it closed a deal with Societe Generale to convert a 230 million euro guarantee line to “green”. This was the third green guarantee line that Siemens Gamesa has arranged so far this year, in addition to 1.25 billion euro arranged with two other banks.