Siemens Gamesa has converted a €900 million (£802m) guarantee line into a green transaction.

In the deal with Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA), Siemens Gamesa will use the money to support its business of manufacturing and selling onshore and offshore wind turbines around the world.

This line is the first deal made under a new sustainable transaction product offered by BBVA, which is linked to the UN’s Sustainable Development Goals and focuses on green, social or sustainable deals.

David Mesonero, CFO of Siemens Gamesa, said: “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.”

Currently, Siemens has nearly 90GW of wind capacity installed worldwide, which reduces carbon dioxide emissions by more than 233 million tonnes per year.

Article source: http://www.energylivenews.com/2019/01/11/siemens-gamesa-converts-e900m-guarantee-line-into-green-transaction/