Siemens Gamesa Moves Forward with EUR 600 million Bank Guarantee Line for the World’s Largest Offshore Wind Farm


GO ECO GREEN21. Siemens Gamesa has signed a bank guarantee line for up to €600m to cover the construction of components for Hornsea 2, the largest offshore wind farm to be announced to date. Located in the North Sea and owned by Danish utility company Ørsted, the farm will consist of 165 Siemens Gamesa wind turbines (1.4 GW), capable of producing enough clean energy to power 1.3 million UK households. BNP Paribas lead managed the deal, in which BBVA, Mizuho and Santander also participated.

Siemens Gamesa’s commitment to sustainability extends to all areas of the company, including finance; as a result, its funding is tied to ESG (environment, social and governance) criteria. Under this agreement, the company will pay a premium in the event that it fails to achieve the defined ESG targets; otherwise, the premium will be paid by BNP Paribas, together with BBVA and Santander.
In either case…

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