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Siemens Gamesa secures fresh green finance, bringing total to €1.72B in 2019

Siemens Gamesa Renewable Energy SA extended a guarantee line with lender Danske Bank A/S to €150 million from an initial €100 million, and signed a new €140 million guarantee line with Mizuho Bank Europe NV, the company said on Jan. 3.

Both agreements include criteria linked to the United Nations' Sustainable Development Goals, or SDGs — a series of global sustainability targets to be achieved by 2030.

The agreements bring Siemens Gamesa's total green guarantee lines to €1.72 billion for 2019. The money will flow into the company's onshore and offshore wind turbine business, which Siemens Gamesa said contributes to the meeting of the "affordable and clean energy" and "climate action" SDGs.

"Sustainability and ESG principles are key at every decision, including in our funding and financing strategy," said David Mesonero, CFO of Siemens Gamesa.

The company said it has installed over 99 GW of wind capacity worldwide, which produces enough electricity to power nearly 85 million European households.