SGRE Reaches $1.9Bn Green Guarantee Lines

Maritime Activity Reports, Inc.

January 5, 2020

Image: Siemens Gamesa Renewable Energy

Image: Siemens Gamesa Renewable Energy

Siemens Gamesa Renewable Energy (SGRE) has announced that in less than a year, and aligned to its commitment to sustainability it has accumulated €1.72 billion ($1.9Bn) in green guarantee lines.

"SGRE is moving forward in its strategy of making sustainability a key element of all aspects of its business, including its funding strategy," said a press statement.

Siemens Gamesa recently extended a guarantee line from Danske Bank to €150 million from an initial €100 million and included Sustainable Development Goals (SDG) criteria.  Likewise, the Company has signed and also included similar conditions for a new €140 million guarantee line from Mizuho Bank Europe NV.

In less than a year, and aligned to its commitment to Sustainability, it has accumulated €1,72 billion in green guarantee lines. Siemens Gamesa 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.”

Siemens Gamesa has installed over 99 GW of wind capacity worldwide, which produce 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 company also supports the 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.

Siemens Gamesa is a member of prestigious international sustainability indexes, such as Dow Jones Sustainability Indices, FTSE4Good and Ethibel Sustainability Index.

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