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

Siemens Gamesa has accumulated nearly €1.5 billion (£1.3bn) in “green” guarantees in less than a year as it steps up its commitment to sustainability and combating climate change.

It follows the completion of a deal with Societe Generale to convert a €230 million (£193m) guarantee line to green, in addition to €1.25 billion (£1bn) arranged with two other banks previously this year.

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

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

David Mesonero, CFO of Siemens Gamesa 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.”

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.

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