Over 3GW of aggregated installed renewable energy capacity funded in the first year

The aggregated installed capacity, funded by the strategic partnership of BNP Paribas and NN Investment Partners (NN IP), has surpassed 3 gigawatts, generating enough clean energy to power over 2 million homes. One year after the initiation of the partnership, the capacity funded by the renewable energy loans, amounts to a reduction in carbon emissions of approximately 2.3 million tonnes of CO2 per annum.

BNP Paribas is one of the market leaders in Europe in renewable energy loans and has doubled its financing of renewable energy in four years to €15bn at the end of 2020. Both BNP Paribas and NN IP are increasing their investments in renewable energy to accelerate the energy transition and contribute to a more sustainable future. BNP Paribas originates and underwrites loans for its own balance sheet and for its clients. Subsequently, BNP Paribas distributes part of these loans to NN IP’s institutional investors, accommodating increased investor demand. NN IP is targeting to invest 500 million euros on behalf of its clients in renewable energy loans via the partnership with BNP Paribas. The collaboration perfectly fits the shared ambition in making renewable energy more accessible to institutional investors, while allowing both BNP Paribas and NN IP to increase their commitment to net-zero emissions by 2050.

Geert Lippens, CEO BNP Paribas Netherlands, says: “We are very pleased that within one year, we have realised 40% of the renewable energy loans that NN IP targeted to invest. The partnership perfectly suits our ambition to accelerate the energy transition by making renewable energy accessible to all investors. Due to our longstanding experience in the financing of renewable energy projects, we are uniquely positioned to offer this expertise to our clients as well as giving them access to the largest renewable energy projects in Europe.”

Valentijn van Nieuwenhuijzen, CIO NN IP, adds: “One of the ways through which we positively contribute to society is by accelerating the energy transition, which is a key theme within our responsible investing strategy to work towards a more sustainable path. Being a leader in responsible investing and a frontrunner in alternative credit makes this partnership with BNP Paribas a good fit. The partnership allows for increased deal volumes for our clients, accommodating their growing interest in renewable energy loans. We have great confidence in this partnership and are continuously looking to broaden opportunities for investors to invest responsibly.”

NN IP is one of the signatories of the Net Zero Asset Managers Initiative, which aims to achieve emissions reduction targets by 2030 and reach net zero by 2050 or earlier.  

BNP Paribas is one of the founding members of the industry-led, UN-convened Net-Zero Banking Alliance that brings together 43 banks, which are committed to aligning their lending and investment portfolios with net-zero emissions by 2050.