€850mn green bond issued by innogy for wind power projects

By Sophie Chapman
German-based innogy, has issued €850mn in an inaugural corporate green bond in order to refinance wind energy projects throughout Europe...

German-based innogy, has issued €850mn in an inaugural corporate green bond in order to refinance wind energy projects throughout Europe.

The bond, with an annual coupon rate of 1.25%, was issued through innogy Finance and guaranteed by innogy.

The energy group used its Green Bond Framework, which comprises energy efficiency and eMobility projects, to create place the bond.

The framework allows the ten-year maturity with the yield-to-maturity arriving at 1.36% per year.

SEE ALSO:

Many of the wind power projects are already in operation, with the remaining currently under construction.

The combined capacity of all of the projects will annually generate 3TWh, creating enough energy to power about 830,000 houses.

“innogy is a sustainable company by conviction and business model,” commented Bernhard Günther, innogy Chief Financial Officer.

“Proceeds from the bond are expected to be used to refinance four offshore wind projects in the UK and Germany,” he added.

“Setting up a Green Bond Framework and issuing the first benchmark corporate Green Bond in Germany is a logical step to underline this position.”

The framework was initiated to correspond with the Green Bond Principles 2017, published by International Capital Market Association (ICMA).

Share

Featured Articles

UK Government awards £54mn in heat network funding

Funding will support the development of schemes in London, Bedfordshire and Woking that use low-carbon heat sources

Shell posts $11.5bn second quarter profit

Shell's earnings fuelled by ongoing price rises and geopolitical instability as the energy major places greater focus on natural gas investments

bp opens first electric truck fast-charging facilities

Operated by bp’s Aral brand, the retail site at Schwegenheim in Rheinland-Pfalz has two 300kw chargers intended for electric trucks

Shell commits to developing Jackdaw gas field in North Sea

Oil & Gas

Prospex Energy raises £1.87m for Selva gas field development

Oil & Gas

Shanghai Electric Group launches low carbon business

Utilities