Second Party Opinion: Vattenfall Green Finance Framework

S&P Global Ratings assesses Vattenfall?s green finance framework as Dark green, with activities that correspond to the long-term vision of a low-carbon climate resilient future. Vattenfall is one of the largest electricity and heat producers in Europe. It is fully owned by the Swedish state.

...Over the three years following issuance of the financing, Vattenfall expects to allocate the majority of proceeds (more than 90%) to the renewable energy category. The issuer expects most proceeds to be allocated to finance new projects. Based on the project categories' Shades of Green detailed below, the expected allocation of proceeds, and consideration of environmental ambitions reflected in Vattenfall's Green Finance Framework, we assess the framework Dark green. Renewable Energy Solar power Wind power Hydro power Manufacture of hydrogen Storage of hydrogen Manufacture of biomethane Transmission and distribution of electricity Storage of electricity Storage of thermal energy Energy efficiency District heating and cooling distribution Electric heat pumps Production of heat/cool from bioenergy Industrial projects Clean transportation Charging stations for electrical vehicles...

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