Técnicas Reunidas creates a model to channel financing towards green projects

Gathered Techniques, one of the leading engineering companies in the execution of industrial plants, and for years focused on oil & gas, seeks to value its relationship with activities associated with the decarbonization and the energy transition. To this end, it has created a specific financing framework for this type of project. The company has called it Harvest and includes indicators to measure the company’s progress in its emissions mitigation strategy and its commitment to the objectives of the Paris Agreement.

The company will use Harvest to assess whether or not each of the new projects is aligned with the aforementioned environmental objectives. If so, These contracts will have access to financing instruments associated with the energy transition that the company uses in the development of its business.

Gathered Techniques has indicated this noon that almost 40% of your income (3.5 billion in 2020) derive from eligible projects under the Harvest model. The selection criteria are based, according to the company, on guidelines from the European Union Taxonomy, the European Investment Bank Lending Policy and the ICMA Climate Transition Finance Handbook.

External advice

The methodology has been designed by Enea Consulting, a consultancy specialized in energy transition, and will be updated every year. ISS-ESGFor his part, he has provided an independent opinion on the alignment of the framework with decarbonisation and the energy transition.

The president of Técnicas Reunidas, Juan Lladó, has stated through a statement that “this financing framework focused on the energy transition confirms our commitment to the Paris Agreement. It will be a very relevant element of the strategy we develop to promote a low-carbon energy system and reflects our decision to be involved in actions that have a clear impact on decarbonisation ”.

Techniques, which has to its credit the execution of a thousand industrial plants For the last 60 years, it has been working on low-emission projects related to blue and green hydrogen, CO2 sequestration and capture, activities along the natural gas value chain (as a transitional energy source), biofuels and biomass electricity production facilities. It also has a presence in activities related to the circular economy. A field, the latter, in which it has been awarded a biomethanol plant from biomass in Amsterdam for more than 200 million euros.

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