Energy

How green is Genesis Energy's green loan?

Ian Llewellyn
Wed, 03 Nov 2021

How green is Genesis Energy's green loan?
The Huntly power station may have a long term future if it gets greener fuel. (Image: Getty)
Ian Llewellyn
Wed, 03 Nov 2021
Genesis Energy and Westpac NZ have agreed to a $100 million sustainability-linked loan with the power company saying it would have liked even greater incentives to reduce things such as carbon emissions.The 10-year loan includes both penalties and rewards based on how Genesis performs in a range of areas including greenhouse gas emissions. The companies won’t say what the exact interest rate is or how the differential works, but Genesis said the penalty cost is up to $100,000 a year and the opportunity benefit is also $100,000.Westpa...

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