Nabiax ties €320 million financing to environmental and social targets

Aug 04, 2021 | Posted by AbdulRahmanOladimeji

Nabiax has announced that it has tied its project financing to sustainability goals. The data center firm announced that its €320 million ($379.5m) financing had been converted into a sustainable format. Valora will serve as the project’s sustainability consultant, while BBVA will be the sustainable coordinating bank. The firm revealed that the financing is tied to two environmental goals and a social goal.

The environmental goals are related to water treatment and greenhouse gases, while the social goal is linked with a gender equality target. There’s a target for hiring more women and a target for the percentage of water and renewable electricity consumption. If Nabiax meets the targets, it will receive a raise on the financing price. On the other hand, if it fails to meet the target, it will receive a penalty.

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