- NSP has issued a ₦6.33bn green bond.
- Proceeds from the bond will help to finance the development of a 15MW solar project.
North-South Power Company Limited (NSP) has issued its ₦6.33 billion fixed rate NSP-SPV PowerCorp PLC Series 2 Green Bond. The bond is listed under FMDQ Securities Exchange Limited’s $1216 million (₦50 billion) Bond Issuance Programme. The company says that the funds raised from the bond will finance the development of the 15MW pre-phase 1 and transmission infrastructure for NSP PowerCorp Plc’s solar project.
Olubunmi Peters, Chief Executive Officer, NSP, noted that the issuance of the bond shows the increasing investor confidence in the company’s business, management team, and long-term strategy in Nigeria’s energy space. Peters assured that the company was poised to unlocking opportunities within the power and infrastructure industry and promoting a sustainable energy solution for Nigeria.
Chief Executive Officer, FMDQ Group, Mr Bola Onadele, added that the exchange is proud to have supported the NSP-SPV PowerCorp Plc series 2 Green bond through the Nigerian Green bond market development programme. The FMDQ Group, CBI and FSD Africa launched the Nigerian Green Bond Market Development Programme in 2018 to create awareness and educate stakeholders on the principles of green financing.