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Siemens Gamesa secures €900M 'green' guarantee line in Spain

Siemens Gamesa Renewable Energy SA entered a deal with Banco Bilbao Vizcaya Argentaria SA in Spain to convert a €900 million guarantee line into a "green" transaction.

The company plans to use the funds to support its business of manufacturing and selling onshore and offshore turbines globally. The line also is the first deal arranged under BBVA's new sustainable product tied to the U.N.'s development goals, according to a news release.

To date, the Spanish wind turbine manufacturer has installed close to 90,000 MW of wind turbines worldwide and is aiming to become carbon-neutral by 2025, according to a Jan. 11 release.