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Voltalia, Natixis and EthiFinance support sustainable finance and the energy transition with the first green and sustainable syndicated loan for a European independent power producer
- Voltalia brings together French and international banks – led by Natixis – for this first syndicated loan signed by a pure player in renewables
- A shared commitment to use financial innovation to support the energy transition and Environmental, Social and Governance (ESG) performance assessed by extra-financial rating agency EthiFinance
- A loan structure that is challenging, committed and innovative, like Voltalia itself
Paris, May 21st, 2019 – Voltalia has signed a credit facility with twelve French and international top-tier banking partners1 for a total amount of €100 million with an interest rate indexed to Voltalia’s extra-financial-performance.
Natixis acted as mandated arranger, sole coordinator, bookrunner and sustainable development coordinator for the operation. EthiFinance agency performed Voltalia’s extra-financial analysis to establish its ESG rating. This facility includes:
- a €55 million credit convention, and
- a €45 million long-term loan agreement.
Both instruments have a maturity of five years, extendible to seven years. This new financing facility establishes Voltalia as an exemplary player in terms of Corporate Social Responsibility (“CSR”) and provides increased financial flexibility for the implementation of its growth strategy, particularly through continued investment in the development of new projects.
Financial innovation supporting a responsible energy transition
This operation highlights the shared commitment of Voltalia and Natixis to the integration of extra-financial performance metrics in companies’ financing solutions. For this first green sustainable loan signed by a renewable pure player, Voltalia selected extra-financial indicators aligned with its CSR priorities: health and safety at work, business ethics and its ESG rating as assessed by EthiFinance.
Voltalia’s performance will be measured annually to define the adjustment of the credit conditions. Beyond contributing to the reduction of global CO2 emissions, this operation thus also positions Voltalia as an exemplary player in terms of business conduct.
“By nature, Voltalia has a positive impact on the environment and in the fight against global change. We wish to take a further step in our commitment with this operation, which is a premiere among pure players in the French renewables market. It highlights our strong belief that it is essential to lead by example in the conduct of our activities and our ambitions regarding extra-financial performance” said Sébastien Clerc, CEO of Voltalia.
“By supporting Voltalia in this new operation, Natixis confirms its long-term commitment with this client, and its determination to deliver innovative solutions underpinned by its strategic commitment to green and sustainable finance based on three pillars: innovation, service and integrity” said Marc Vincent, Global Head of Corporate & Investment Banking and Member of the Senior Management Committee, Natixis.
“With its Green and Sustainable hub, Natixis has the expertise and operational resources to support its clients in their energy and climate transition, and to develop and highlight their leading examples in sustainable development. The performance indicators chosen by Voltalia for this operation reflect the company’s comprehensive approach to sustainable development” said Orith Azoulay, Global Head of Green & Sustainable Finance, Corporate & Investment Banking, Natixis.
“This financing operation is a strong signal of the growing importance of CSR as a financial performance leverage. EthiFinance is glad to contribute to it by placing its expertise at the service of visionary and voluntary companies as Voltalia” said Emmanuel de La Ville, CEO at EthiFinance.
1. Natixis, BNP Paribas, Crédit Industriel et Commercial, Arkea Banque Entreprises et Institutionnels, Banco do Brasil, Crédit Lyonnais, Bred Banque Populaire, Caisse d'Epargne et de Prévoyance Hauts de France, Banco de Sabadell, Banque Palatine, Caisse d'Epargne Loire-Centre et Crédit Agricole Corporate & Investment Bank
Voltalia is an international player in the renewable energy sector. The Company produces and sells electricity generated from wind, solar, hydro, biomass and storage facilities, with a total capacity of 921 MW either in operation or construction.
Voltalia is also a service provider, assisting its investor clients active in renewables at each project stages, from conception to operation and maintenance.
With 550 employees in 18 countries over 4 continents, Voltalia is able to act worldwide on behalf of its clients.
Voltalia has been listed on the Euronext regulated market in Paris since July 2014 (FR0011995588 – VLTSA) and is a component stock of the Enternext Tech 40 index and the CAC Mid&Small index. The Group is also included in the Gaïa-Index, an index for socially responsible midcaps.
Founded in 2004, EthiFinance is the European leader in non-financial research and consulting. For almost 15 years, EthiFinance has been assisting investors and companies in their strategic management of Environmental, Social and Governance risks (ESG).
https://www.ethifinance.com/ethifinance-english-version
190521-Voltalia Natixis EthiFinance- Natixis PR.pdf
May 22, 2019
Experts
Marc Vincent
Global Head of Corporate & Investment Banking, Natixis
Marc Vincent is Global Head of Corporate & Investment Banking and a member of the Senior Management Committee of Natixis. He started his career in 1985 at Citibank's...
Orith Azoulay
Global Head of Green & Sustainable Finance, Corporate & Investment Banking, Natixis
Contacts
About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.1 billion, a Basel 3 CET1 Ratio(1) of 11.5% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in. See note on methodology in the 2Q19 earnings material.
Figures as at 30 June 2019