Enel takes another step towards sustainability. The Group has signed a contract of financing of 1 billion euros for a “Sustainability-Linked Loan” with variable spread, with a duration of 6 years as a club deal. With the aim of increasing the share of renewable energies in the global energy mix by 2030, in line with the United Nations Sustainable Development Goals (SDGs).
The contract (expiring on October 15, 2026) is linked to Enel's sustainability objective relating to the percentage of consolidated installed capacity from renewable sources compared to the total consolidated installed capacity, and to the achievement of a Sustainability Performance Target (SPT) equal to or greater than 60% by 31 December 2022 (at 30 June 2020 it was equal to 51,9%).
Based on the level of achievement, the agreement includes a mechanism step up/step down which will change the spread applied to funds withdrawn from the credit line, thus reflecting the value of sustainability.
To carry out the transaction, Enel made use of a syndicate of 6 banks that act as Leaders, Bookrunners and Mandate Lead Arrangers.
In the meantime, Enel – a global business line dedicated to the development of innovative products and digital solutions – signed a Memorandum of Understanding, lasting 2 years, with ASSTRA-Associazione Trasporti to make local public transport more sustainable.
At the heart of the agreement: the acceleration of the energy transition, greater efficiency in the use of public funds, the design of cutting-edge charging infrastructure and new solutions for Smart Cities. So since reduce emissions from urban and suburban lines as well as improve the quality of service to citizens.
The innovative solutions will be developed in consideration of the regulatory framework, involving local public transport companies according to a public-private collaboration model.
Finally, the agreement aims to encourage awareness-raising actions on the harmful effects of environmental and acoustic pollution, paying particular attention to urban centres.
