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

Welcome to the PE Media Network

In 2021 Petroleum Economist is joined by Hydrogen Economist and Transition Economist to form the only genuinely comprehensive intelligence service covering the global energy industry