Siemens Gamesa Boosts Green Guarantee Line

Siemens Gamesa has expanded its green guarantee line to EUR 1.25 billion which the company will use to fund its business of manufacturing and selling onshore and offshore wind turbines worldwide.

In a deal arranged with BNP Paribas, the company converted a EUR 240 million guarantee line into a “green” line and signed an additional line for EUR 110 million. That EUR 350 million is in addition to the EUR 900 million in guarantees arranged with other banks.

“BNP Paribas is fully aligned with Siemens Gamesa in pursuit of the common goal of a low-carbon economy,” said Alberto Sarricolea, Head of Corporate Banking at BNP Paribas.

“This deal, which has a positive impact on society, also contributes to our group’s goal of providing over €15 billion in funding for renewable energy by 2020, a goal we had amply exceeded by the end of 2018.”

With over 95GW of installed wind capacity, Siemens Gamesa contributes to cutting emissions of CO₂ by 247 million tons per year, equivalent to planting 4 billion trees. 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.

“This deal is a further step in our commitment to being one of the main drivers of sustainable development. The Sustainable Development Goals reflect a new understanding that global development must integrate economic growth, social well-being and environmental protection. At Siemens Gamesa we are focused on driving this global process and contributing to attaining those goals. In fact, our wind turbines produce clean energy for millions of homes and contribute to combating climate change, one of the main challenges that we face at present,” said David Mesonero, CFO of Siemens Gamesa.