The company says the facilities will support PTI’s future growth in providing critical and energy conscious tower infrastructure to new and existing markets around the world.
Tower companies like PTI are under increasing pressure to reduce the carbon emissions from cell sites to help meet their customers sustainability targets.
The €1.2 billion credit facility was closed in September 2023, but since then has been converted into an SLL with three key KPIs.
Firstly, PTI must decrease scope 1 and 2 greenhouse gas intensity per site, and disclose their scope 3 emissions.
PTI will also need to improve its GRESB score. GRESB is an independent organisation providing validated ESG performance data and peer benchmarks for investors. Scoring will follow the GRESB Infrastructure Asset Assessment methodology.
Finally, at any tower site where PTI provides lighting, lights must be converted to LED bulbs, or powered fully by solar power.
On-site solar generation has been an emerging trend for cell sites for some years, but due to the limited power they can generate on a consistent basis are better suited to ancillary functions such as lighting, alarms and charging batteries in certain conditions.
CEO Dagan Kasavana reiterated that PTI was committed to providing wireless communication technology to communities and countries in need of greater connectivity, in the most efficient and environmentally friendly way possible.
“As long-term owners of wireless infrastructure, we have an opportunity to lead on this important topic and we know that’s important to our clients, the communities we do business in and the industry as a whole. That’s why we set high standards for ourselves and why we’ve committed to this SLL," he said.
Dutch financial services firm ING acted as joint mandated lead arranger, bookrunner and sole sustainability coordinator for the deal.
“ING supports clients to be a step ahead in digital connectivity, and are proud to witness PTI expand its leadership also in sustainability,” said Ana Carolina Oliveira, head of TMT/healthcare Americas at ING.
“This deal is a testimony to PTI’s commitment in advancing its sustainability initiatives by linking its financing to a comprehensive set of material KPIs,” further added Suleyman Kilci, vice president, sustainable finance at ING Americas.
