Grenergy signs with Banco Santander a green corporate financing secured by Cesce of 147 million

MADRID, 13 Nov. (EUROPA PRESS) -

Grenergy has signed a green loan with Banco Santander for an amount of 157 million dollars (about 147 million euros), insured with the coverage of a Cesce Green Investment Policy on behalf of the State, intended for projects that contribute to the fight against climate change, the company reported.

Additionally, the financing also has a 'swap' coverage that, in addition to covering the green underlying, links its interest rate to the fulfillment of ESG objectives, which reflects the company's performance in specific areas of sustainability. and the social sphere.

This hybrid coverage structure combines the use of funds for projects considered green ('Green Use of Proceeds'), with the fulfillment of objectives established for specific indicators, following the 'Sustainability Linked' format. thus allowing the company to provide greater transparency and drive its ambition above the usual 'green' label.

The company's plans involve allocating resources to continue promoting its growth, closely linked to energy storage, and which it will present at its first 'Capital Markets Day', on November 21.

The CEO of Grenergy, David Ruiz de Andrés, was especially pleased with the closing of "a pioneering green financing in the market at such competitive costs."

"These funds are going to play a key role in the growth plans of the company, which has a strong commitment to the battery market," he said.

For his part, Ignacio Domínguez-Adame, head of Santander Corporate

Meanwhile, Beatriz Reguero, account director of the State of Cesce, highlighted the entity's commitment to all these initiatives, "because at Cesce we want to be part of the green transformation of the Spanish production model, making compatible the commitments of the fight against climate change with support for the internationalization of our companies".