- Statkraft issues €500 million worth of unsecured green bonds to secure funds for renewable energy.
Norwegian power company Statkraft A/S has issued €500 million worth of senior unsecured green bonds to secure funds for renewable energy and clean transportation projects. According to Statkraft, the transaction was oversubscribed by approximately ten times. As part of its Euro Medium Term Note (EMTN) program, this is the group’s first issue of green bonds denominated in euros.
The bonds are due in September 2029 and carry a fixed coupon rate of 2.875 per cent.
By its Green Finance Framework, which anticipates yearly investments of more than €1.3 billion in renewable energy until 2025, Statkraft expects to use the new money to finance projects that fall under its purview. The framework focuses on investments in infrastructure connected to hydropower, wind, and solar projects, as well as clean mobility programs like EV charging stations (EVs).