ANZ has played a key role in helping French group Verkor secure funding for an electric-vehicle (EV) gigafactory in France.
The €1.3 billion green loan facility will support the construction of a 16GWh EV battery plant, assisting in the transition to electrified transportation.
ANZ acted as joint green loan co-ordinator and senior mandated lead arranger on the deal.
The Verkor facility will supply batteries for circa 300,000 electric vehicles per year and create more than 1,200 jobs.
ANZ Head of Sustainable Finance in Europe, Emily Tonkin, said the bank was pleased to demonstrate its sustainable finance expertise through the deal.
“There is a growing market trend towards decarbonising the transport sector by transitioning from internal combustion engine vehicles to fully electric vehicles,” she said. “ANZ is proud to play a key role in supporting Verkor’s ambitions.”
Growing
Verkor’s green financing framework is aligned with both the green loan principles (GLPs) and green bond principles (GBPs).
ANZ has taken a growing role in the automotive industry’s transition to net-zero emissions. Earlier in May, the bank helped vehicle leasing group FleetPartners secure funding that will be used in part to support leases for electric vehicles.
In November, ANZ helped Hyundai Mobis secure sustainable funding to support an expansion of the group’s EV manufacturing operations in the United States.
That followed a deal in 2022 which saw ANZ help finance an electric-vehicle battery manufacturing facility in Indonesia for HLI Green Power, a joint venture between Hyundai and lithium-ion battery manufacturer LG Energy Solution.
Earlier that year, ANZ worked with another Hyundai subsidiary, Hyundai Motor Group Innovation Centre, on obtaining its first green loan.
ANZ has set a target to fund and facilitate at least $A100 billion by the end of 2030, including $A15 billion by end 2024, in social and environmental outcomes through customer activities and direct investments by ANZ.
