REG - SSE Plc - SSE Issues EUR 650m Green Bond

SSEAnnouncement

25/07/2022 17:00

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RNS Number : 6642T  SSE PLC  25 July 2022

SSE PLC

SSE ISSUES €650m GREEN BOND

SSE plc has successfully issued a €650m 7-year green bond maturing 1 August
2029 at a coupon of 2.875 per cent.

Today's issuance is SSE's fifth green bond in six years and reaffirms its
status as the largest issuer of green bonds from the UK corporate sector. It
remains the only UK corporate to offer up multiple green bonds and this latest
issuance brings SSE's total outstanding green bonds to over £2.5bn.

SSE continues to make progress with delivery of its £12.5bn Net Zero
Acceleration Programme, set out last November, which will see it double its
renewables capacity by 2026. The green bond proceeds are earmarked to help
fund SSE Renewables projects currently under construction or recently
completed such as the Gordonbush Extension, Viking and Seagreen wind farms, as
well as the world's largest offshore wind farm at Dogger Bank.

SSE expects to deliver around a fifth of the UK's target of 50GW of offshore
wind by 2030 as part of plans that could see it invest £25bn in the UK alone
by the end of the decade.

Gregor Alexander, SSE's Finance Director, said: "We have always viewed
optionality, agility and discipline as important qualities in financing. This
has only been emphasised by the continued volatility in the capital markets
due to rising inflation impacting on Central Bank plans for raising rates.

Notwithstanding the current challenging market conditions, today's new green
bond has been extremely well received, and was considerably oversubscribed.
This latest green bond is consistent with our commitment to maintaining a
strong balance sheet as we continue our Net Zero Acceleration Programme
investments, and will enable us to continue to deliver cleaner, more secure
and more affordable energy."

Notes

SSE's recently published Green Bond Report can be found at
https://www.sse.com/greenbond (https://www.sse.com/greenbond) , along with an
Assurance Report from PwC and DNV's Opinion Report on this new green bond
issuance.

 

 Enquiries
 Investors  SSE Investor Relations  ir@sse.com (mailto:ir@sse.com)        Sally Fairbairn, Michael Livingston  +44 (0)345 0760 530
 Media      SSE Media               media@sse.com (mailto:media@sse.com)  Sam Peacock,                         +44 (0)345 0760 530

                                                                          Glenn Barber

            MHP Communications                                            Oliver Hughes                        +44 (0)7885 224 532
                                                                          Simon Hockridge                      +44 (0)7709 496 125

 

 

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