INTESA SANPAOLO: 350 MILLION EURO ESG GUARANTEE LINE TO THE IBERIAN ENERGY LEADER ENDESA

 

• Upon reaching a pre-established target, Intesa Sanpaolo will improve the conditions of the guarantee facility.
• Endesa has committed to increase the percentage of renewable sources in the total installed power generation capacity in the Iberian Peninsula from 45% at the start of the year to 50% by end December 2021.
• Nicola Doninelli: "The guarantee facility, granted by our Madrid branch, provides a concrete incentive for a large European group, already a leader on the sustainability front, to achieve even more ambitious ESG goals".

 

Milan/Madrid, 28 July 2021 - Intesa Sanpaolo has granted Endesa, the largest electricity company in Spain and the second largest in Portugal, a €350 million guarantee line.

The operation involves the granting of a facility - through the IMI Corporate & Investment Banking Division guided by Mauro Micillo - for the issuance of "umbrella" guarantees - from which all Endesa's subsidiaries will be able to benefit -, which includes an ESG (Environmental, Social, and Governance) incentive mechanism.

Endesa has committed to increasing the percentage of renewable sources in its total installed power generation capacity in the Iberian Peninsula from 45% at the start of the year to 50% by end December 2021. If the pre-set target is met, Intesa Sanpaolo will apply a discount to the line.

At end 2020, Endesa had total assets of €32 billion and around 9,600 employees. The company is part of the Enel Group, an Italian multinational power company and a leading integrated player in the global power and renewables markets, as well as a main gas operator in the retail market, present in 5 continents and more than 30 countries, with more than 74 million end users it is also the first private network operator globally.

"We are very pleased to support Endesa and the Enel Group in their important path for the acceleration of the energy transition" - says Nicola Doninelli, Head of the International Department of Intesa Sanpaolo's IMI Corporate & Investment Banking Division. "The guarantee facility, granted by our Madrid branch, provides a concrete incentive for a large European utility, already a leader on the sustainability front, to achieve even more ambitious ESG goals".

 

 

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Intesa Sanpaolo

Corporate & Investment Banking and Governance Areas

stampa@intesasanpaolo.com