Elenia has replaced existing bank facilities by new sustainability linked credit facilities
Elenia has signed sustainability linked revolving credit facilities totaling EUR 370 million with a syndicate of nine banks. The facilities consist of
- EUR 250 million Capex Facility,
- EUR 50 million Working Capital Facility, and
- EUR 70 million Liquidity Facility,
which replace the credit facilities signed in June 2017. The lenders in the new syndicate are ABN AMRO, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Danske Bank, National Westminster Bank, Royal Bank of Canada, OP Corporate Bank, SEB and SMBC. The facilities have tenor of five years with two one-year extension options for Capex and Working Capital Facilities.
The facilities include the following sustainability KPIs and Elenia will benefit from a lower margin if at least two of the following targets are reached:
- Reduction of CO2 emissions
- Improvement of security of supply
- Improvement of safety among personnel and service providers
Elenia is committed to the science-based climate targets with the goal to reach net zero greenhouse gas emissions by 2050. As a provider of critical electricity network services Elenia will invest 2 billion euros by 2036 to improve the security of supply, as well as to enable flexibility solutions and connection of renewable energy sources. Safety is a key focus area for Elenia and an essential part of sustainability is looking after the safety and well-being of Elenia’s personnel or everyone who works for Elenia or passes our construction site.