Statkraft pockets 1.3 billion euros in sustainability debt

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April 1 (Renewables Now) – Norway’s state-owned renewable energy company Statkraft A/S secured a €1.3 billion ($1.45 billion) revolving credit facility tied to meeting its targets of sustainable development.

The debt has been extended by a group of lenders for five years and has two one-year extension options, the Norwegian firm announced on Friday. The new funds will replace Statkraft’s existing €9.2 billion syndicated revolving credit facility signed in June 2016.

The interest margin of the new revolver will be adjusted according to Statkraft’s performance based on three predefined strategic sustainability goals on an annual basis. The specific objectives relate to the deployment of wind, solar and hydroelectric capacity, as well as the company’s commitment to health, safety, security and the environment, among others.

Statkraft aims to add 9 GW of renewable energy capacity by 2025. “As Europe’s largest renewable energy provider, we of course want to support our growth strategy by committing to achieving sustainability goals. thanks to this facility,” said CEO Anne Harris.

DNB, BNP Paribas, Barclays Bank plc, Danske Bank, Handelsbanken, Nordea, Santander, SMBC, Société Générale, UniCredit and SEB participated in the round.

(1.0 EUR = 1.113 USD)

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