H2 Green Steel, which produces steel using green hydrogen in the process, has secured loans while increasing its equity capital. In total, the company has secured nearly €6.5 billion in financing to build the world’s first large-scale green steel plant in northern Sweden.
H2 Green Steel has signed a €4.2 billion debt financing package: €3.5 billion of senior debt and a junior debt facility of up to €600 million. There are 20 lenders in all, including Svensk Exportkredit (SEK) and the European Investment Bank, as well as commercial banks led by BNP Paribas, ING, KfW IPEX-Bank, Société Générale and UniCredit. H2 Green Steel has also raised almost €300 million in additional equity, bringing total equity funding to a total of €2.1 billion. The new shareholders include Microsoft Climate Innovation Fund, Mubea and Siemens Financial Services.
Last September, the company raised €1.5 billion in equity, making it the largest private placement of 2023 in Europe. Hy24 was one of the investors.
Read more on https://hydrogentoday.info/en/h2-green-steel-debt-financing/
