German utility giant RWE has issued a green bond with a volume of €2 billion (US$2.1 billion), the proceeds of which will be used to pursue development of solar and wind projects.
The latest issue follows two bonds issued last year with a total value of €1.85 billion to power RWE’s ‘Growing Green’ strategy, which involves the utility expanding its portfolio of renewables projects to 50GW.
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RWE’s Breen Bond Framework, announced in April 2020, stipulates that green bond funding can be used to finance or refinance, in whole or in part, wind and solar projects. RWE is targeting projects in “attractive markets” in Europe, North America and Asia-Pacific.
Its latest bond has been issued in two tranches of €1 billion each with maturities in 2026 and 2030.
RWE said the issue was met with “strong interest” from investors.