Salmon Evolution has signed an agreement for a new NOK 1,55 billion green debt financing package, where the net proceeds are estimated to give sufficient financial runway and buffer for the company to refinance phase 1 and finance early phase 2 at Indre Harøy.
Salmon Evolution is a Norwegian land-based salmon farming company targeting a production capacity of 100,000 tonnes HOG by 2032. The company’s core focus is on extending the ocean’s potential by transferring the best preconditions by the sea to farm fish on land through its chosen hybrid flow-through system technology (HFS).
As part of the placement, DNV’s Nordic sustainable finance team performed an independent verification on the target’s alignment towards the DNB Sustainability Product Framework and facilitated the application for the green loan.
Ingebjørg Nueva Finnebråten, Senior Sustainability Consultant at DNV, said, “We would like to congratulate Salmon Evolution for this green debt financing package which, with its demonstrated commitment to sustainable financing, will enable it to grow its salmon farming operations. We look forward to seeing what more they achieve on this journey in what DNV is seeing as an exciting time for the wider aquaculture industry with a growing focus on ESG and climate-positive actions.”
DNV supports the sustainable financing activities of its customers by providing Second Party Opinions, giving an independent assessment of a bond, loan, or framework’s alignment to accepted market principles that in turn, drives investing practices/portfolio decision making.
Read Salmon Evolution’s press release here.