Acciona sets up supply chain finance line with support from BBVA

Friday 20 March 2020 13:49 CET | News

Spain-based provider of management solution for infrastructure and renewable energy Acciona has set up a supply chain finance line with BBVA.

It is the first international sustainable supply chain finance line (a product also known as confirming or reverse factoring) set up by Acciona, a company focused on providing sustainable solutions for infrastructure and renewable energy projects. The USD 15 million line will be used to streamline payments to suppliers in the ‘Ness Energy Project’, a waste-to-power plant in Scotland. As a result, a total of 25 European suppliers will benefit from the early collection of the receivables they issue in consideration for services rendered to this infrastructure.

This new international line of supply chain finance has been certified as sustainable in accordance with the BBVA’s transactional banking framework and will contribute to advance in the achievement of three Sustainable Development Goals: SDG 3, health and well-being; SDG 11, sustainable cities and communities and SDG 12, responsible production and consumption BBVA and Acciona have defined two sustainable indicators or KPIs in the certification: the amount of waste processed and the power recovered from waste (minus ancillary fuel consumption).

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Keywords: Acciona, BBVA, supply chain finance, Spain, KPI, fuel consumption, Ness Energy Project, reverse factoring, receivables
Categories: Banking & Fintech
Countries: Spain
This article is part of category

Banking & Fintech