ESG facility of €350 mln to Endesa to increase percentage of renewable sources

Intesa Sanpaolo has granted Endesa an ESG (Environmental, Social, and Governance) credit facility of €350 million, for the issuance of “umbrella” guarantees from which all Endesa’s subsidiaries will benefit.

Endesa, Spain’s largest electricity company and the second largest in Portugal, has committed to increasing the percentage of renewable sources in the total of its installed electricity generation capacity in the Iberian Peninsula from 45% at the beginning of the year to 50% by the end of December 2021.

The loan to Endesa involves the granting of a credit facility by Intesa Sanpaolo, through its IMI Corporate & Investment Banking Division.

Upon Endesa’s compliance with the target, an ESG incentive mechanism will be activated through which a discount will be applied to the credit facility.