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

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 CO₂ 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.

Siemens Gamesa is a global leader in the wind power industry, with a strong presence in all facets of the business: offshore (#1), onshore (#2) and services (#2). Through its advanced digital capabilities, the company offers one of the broadest product portfolios in the industry as well as industry-leading service solutions, helping to make clean energy more affordable and reliable. With 89 GW installed worldwide, Siemens Gamesa manufactures, installs and maintains wind turbines, both onshore and offshore. Its backlog stands at €22.8 billion. The company is headquartered in Spain and listed on the Spanish stock exchange (traded in the Ibex-35 index).

BBVA is a customer-centric global financial services group founded in 1857. It has a solid leading position in Spain, is the largest financial institution in Mexico, and has leading franchises in South America and the SunBelt region of the United States. It is also the largest shareholder of Garanti, in Turkey. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies the best practices.