Vena Energy receives $600m of sustainability-linked financing

The green energy company has achieved over 3 GW of projects.

Vena Energy has secured a $600m (JPY90.22b) sustainability-linked Revolving Credit Facility (RCF).

The five-year RCF is designated as a loan intended for sustainability, with margins contingent on key performance indicators (KPIs) in environmental impact, workplace diversity, and health and safety.

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“As we move forward, we remain firmly committed to our sustainability goals, leveraging this milestone as a stepping stone towards even greater achievements in the energy transition. Together, we will continue to lead by example and shape a better, more sustainable and independent energy market for current and future generations,” Nitin Apte, CEO of Vena Energy, said.

The RCF is provided by ten financial institutions, such as DBS Bank Ltd., MUFG Bank, Ltd., and Mizuho Bank, Ltd. ING Bank and BNP Paribas cooperated as the sustainability coordinator for the transaction. Crédit Agricole Corporate and Investment Bank served as the facility agent and issuing bank.

Currently, Vena Energy has succeeded in the average construction of new solar, wind, or battery projects every six weeks, superseding the milestone of 3 gigawatts (GW) and achieving over 4 GW of construction and capacity.