Siemens Gamesa obtains first green guarantee line in Spain, for €900 million

The transaction furthers the company’s focus on sustainability and combating climate change; it has installed close to 90 GW of wind energy capacity to date, avoiding the emission of 233 million tons of CO2 per year.

Siemens Gamesa Renewable Energy (SGRE) strengthened its focus on sustainability and set a milestone by being the first company in Spain to arrange a guarantee line that qualifies as ‘green’ due to contributing to the United Nations Sustainable Development Goals (SDG).

In a deal arranged with BBVA, Siemens Gamesa converted a €900 million guarantee line into a ‘green’ transaction and will use it 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”.

This line is the first deal to be arranged under BBVA’s new sustainable transactional product linked to the UN Sustainable Development Goals, focusing on green, social or sustainable transactions.

“I am particularly proud of our company’s commitment to combating climate change by generating clean, sustainable energy for the planet. At Siemens Gamesa, we are focused on being ever more sustainable across the board, and this deal is another step in that direction,” said David Mesonero, CFO of Siemens Gamesa.

The close to 90 GW of wind capacity installed by Siemens Gamesa worldwide reduces CO? emissions by more than 233 million tons per year. The company also supports global climate protection goals and has adopted the global initiative to decarbonise economies. Siemens Gamesa has undertaken to be carbon-neutral by 2025, by replacing conventional emission-intensive power sources with renewable energies in its operations.