Loan of up to 800 million US dollars for Enel. The maxi liquidity injection comes from EKF, the Danish export credit agency. This loan, as stated in the note, prepared by Citi, is based on the commercial relations that the Group has worldwide with Danish suppliers and is aimed at supporting, through a flexible instrument, the development of wind energy and mitigating the effects climate change, objectives that are part of the “Net Zero 2040” strategy adopted by Enel.
This agreement represents EKF’s first overall funding in terms of sustainability; the agreement provides that Enel Finance America LLC, a subsidiary of the Enel Group, will benefit from the possibility of a significant early withdrawal with a first tranche in October 2022 and with the remaining second tranche to be used at the beginning of 2023: both amounts they will support the development of Enel’s strategy aimed at increasing investments in wind power, helping to guide the energy transition towards decarbonisation. Under the agreement, EKF is the Lender and Citi acts as Mandated Lead Arranger, Facility Agent and counter-guarantor of EKF.