Siemens Gamesa secures EUR 900m green guarantee line in Spain

Siemens Gamesa wind turbine. Photo taken from Siemens' website (www.siemens.com).

January 11 (Renewables Now) - Siemens Gamesa Renewable Energy SA (BME:SGRE) announced today it has secured a EUR-900-million (USD 1bn) green guarantee line with Spain’s Banco Bilbao Vizcaya Argentaria SA (NYSE:BBVA), or BBVA.

This the inaugural deal under BBVA's s new sustainable transactional product linked to the United Nations Sustainable Development Goals (SDG).

Siemens will use the money to support its global onshore and offshore wind turbine manufacturing and selling business, impacting the SDG as it is related to"Affordable and clean energy" and "Climate action", the company said.

To Siemens Gamesa's CFO, David Mesonero, this deal represents another step in the firm's commitment to combating climate change by generating clean, sustainable energy for the planet.

With a close to 90 GW of wind power capacity installed, Siemens Gamesa has helped reduce more than 233 million tonnes of carbon dioxide (CO2) per year, it noted.

The company has also undertaken to be carbon-neutral by 2025, replacing conventional emission-intensive power sources with renewable energies in its own operations as well.

(EUR 1 = USD 1.15)

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Lucas is based in Brazil. He joined Renewables Now to expand coverage of the Ibero-American market, a highly attractive destination for green energy investment.

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