Ørsted has signed a EUR 2.0 billion 5-year sustainability-linked syndicated revolving credit facility with two 1-year extension options. The facility is for general corporate purposes and replaces Ørsted’s existing, undrawn EUR 1.4 billion syndicated revolving credit facility entered into in December 2015.
To help drive the efforts to meet Ørsted’s sustainability targets, the facility’s interest margin will be adjusted (up or down) based on Ørsted’s ability to meet two pre-defined strategic sustainability targets on an annual basis.
The first target is Ørsted’s science-based target of reducing the carbon emissions from its energy generation and operations (scopes 1-2) to 10 g CO2e/kWh by 2025, which is the main lever for achieving carbon neutrality in 2025, and which is aligned with a 1.5 °C climate scenario.
The second target is Ørsted’s taxonomy-aligned green investments linked to its announced approximately DKK 350 billion investment programme for 2020-2027, which constitute a step in achieving Ørsted’s strategic ambition of reaching approximately 50 GW of installed renewable capacity by 2030.
To meet the associated reporting requirement, Ørsted will commence reporting according to the new EU taxonomy, which has been created for the purpose of supporting the green transition.