- Renewable energy developer Sun King will receive green bonds for solar kit deployment in Africa and Asia.
The Symbiotics platform is issuing $17 million in green bonds to Sun King to deploy solar kits in Africa and Asia. The green bonds were issued on Micro, Small & Medium Enterprises Bonds.
This bond is part of Symbiotics’ Sustainable Bonds Framework, certified in December 2019 and November 2021 by DNV GL, an international registrar based in Høvik, Norway. The framework provides services to several industries, including the renewable energy sector. According to Symbiotics, the recent transaction is listed on the official list of securities posted on the Luxembourg Stock Exchange in the green bond section.
In a statement by Symbiotics, “with the issuance of these green bonds, Sun King is demonstrating its ability to align with the International Capital Markets Association’s (ICMA GBP) Green Bond Principles or Sustainability Bond Guidelines, which increases the attractiveness to international investors.”