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Renewables Decarbonisation Financing
Polly Martin
11 October 2021
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Orsted signs €2bn climate-linked revolving credit facility

Interest margin to depend on performance against predefined sustainability targets, Danish energy company says

Danish energy company Orsted has signed a €2bn ($2.3bn) revolving five-year credit facility as it seeks to push on with its transition plans. The facility’s interest margin will be adjusted annually by an undisclosed amount depending on third-party verification of two sustainability targets: reducing scope one and two carbon emissions from energy generation and operations to 10g CO₂e/kWh by 2025; and investment of DKK350bn ($54.4bn) in EU taxonomy-aligned green projects between 2020-2027. “At Orsted, we are very committed to contributing to driving the green transition,” says Orsted CFO Marianne Wiinholt. “We have been issuing senior bonds and hybrid capital in green format since 2017, and w

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Also in this section
RWE raises 2022 renewables spend by 30pc
12 August 2022
German utility targets €5bn investment in renewables but confirms temporary restart of lignite power plants to support winter supply
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11 August 2022
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Ipieca launches industry principles
11 August 2022
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Burning developed fossil fuel reserves will exceed 1.5°C carbon budget
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Significant proportion of CO₂ from oil, gas and coal assets either producing or under construction must be left unburned, study says

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