Mowi secures US$2.8B green credit facility, embarks on salmon farm seabed sampling

NORWAY – Global salmon farming giant Mowi has taken two significant steps in its mission to lead the aquaculture sector in sustainability. The company has secured a €2.6 billion (US$2.8 billion) sustainability-linked credit facility and deployed a dedicated vessel for full-time seabed monitoring across its marine farms in Scotland.

The five-year revolving credit facility, signed with a syndicate of major banks including DNB, Nordea, Rabobank, ABN AMRO, Danske Bank, SEB, and Crédit Agricole, will refinance existing debt and support general operations. 

Notably, the agreement ties interest rates to Mowi’s performance against specific environmental, social, and governance (ESG) indicators, underscoring its commitment to 100% green or sustainable financing.

Mowi emphasised that the facility “supports its ambition of achieving 100% green or sustainable financing,” with interest rates adjusted based on sustainability key performance indicators. 

The deal also includes an equity covenant of at least 35% and features an “accordion” option, allowing for an additional €400 million (approximately US$431 million) subject to lender approval.

Mowi leases vessel for full-time salmon farm seabed sampling

Meanwhile, in Scotland, Mowi has leased the Benthic Surveyor, a state-of-the-art vessel operated by longtime partner Benthic Solutions Ltd, to carry out year-round benthic compliance surveys. 

The initiative reflects heightened regulatory requirements and Mowi’s commitment to responsible seabed management.

“Ensuring that we comply with our regulatory thresholds is essential,” said Mowi Scotland Managing Director Ben Hadfield. 

“This not only demonstrates the sustainability of our farming operations in compliance with a wide range of aquaculture standards that we are certified against, but also provides clear provenance to our food for both suppliers and consumers.”

The Benthic Surveyor, which became operational in March, is equipped with lifting gear, seabed mapping technology, and a wet lab. It will support Mowi’s intensified survey program, which is expected to include 35 surveys across marine sites this year.

Dave Young, who leads Mowi’s marine surveying team and has over 25 years of experience, has conducted more than 425 seabed surveys and collected 6,500 environmental samples. His work has been recognised with a nomination in the Unsung Hero category at the 2025 Aquaculture Awards.

Ian Wilson of Benthic Solutions praised Young’s contributions, adding: “The introduction of the Benthic Surveyor as a dedicated survey vessel will significantly simplify logistics and provide increased efficiency and safety for all field staff.”

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