19 DECEMBER 2024 – ERG SpA has successfully executed a new bilateral sustainability-linked Trade Finance facility structured by Mizuho EMEA, a first for the franchise in the region.
The guarantee fees for this facility are linked to ERG’s performance against two sustainability key performance indicators (“KPIs”) aligned with with ERG's ambitious sustainable finance targets
With 3.795 MW of installed capacity as of 30 September 2024, ERG is a leading independent international operator of clean energy from renewable sources, operating in nine European countries and the United States.
ERG’s ESG Plan is embedded in its business strategy and Sustainable Finance is an integral part of ERG’s capital structure. As part of its development programs in the renewables sector, ERG is committed to ensuring that by 2026, 90% of its financing sources will come from sustainable finance. This facility demonstrates the Group’s continued commitment to sustainability throughout its business.
Borja Zamorano, Head of Corporate and Investment Banking Southern Europe, “Sustainability and innovation are at the core of Mizuho’s business strategy. The integration of sustainability-linked mechanics to trade finance supports the aligment of financing strategies with corporates sustainability strategies. We are delighted to support ERG, a leader in renewable energy, with this new trade facility.”
Sohini Dhutia, New Energy Technologies Team at Mizuho commented, “Mizuho EMEA is delighted to continue to support ERG’s sustainability strategy by providing a new sustainability-linked Trade Finance facility, which is consistent with ERG ambitious sustainable finance targets. Engagement with our clients and supporting them with finance and advisory services to develop their transition journey is at the core of Mizuho’s strategy.”
Ends
________________________________________________________________________
About Mizuho EMEA
Mizuho EMEA provides corporates and institutions in the region with unparalleled access and expertise in Japan and Asia, and supports clients with their corporate and investment banking, and asset management needs. Headquartered in London and with a presence in 16 countries throughout the region, our client base includes leading corporations, financial institutions and state owned entities. We are a strategic financial partner with a focused objective of helping our clients to connect, succeed and grow.
Mizuho’s presence in EMEA is an integral part of the Japan-based Mizuho Financial Group, Inc. Mizuho Financial Group is one of the largest financial institutions in the world, offering comprehensive financial and strategic services through its subsidiaries. The group has over 900 offices and 60,000 employees worldwide in nearly 40 countries throughout the Americas, EMEA, and Asia. As of 31 March 2024, its total assets were US$2 trillion.
Learn more about Mizuho in EMEA: www.mizuhoemea.com