Austria issues EUR 4bn inaugural green bond

A solar park in Austria. Image by Wien Energie GmbH.

May 26 (Renewables Now) - Austria has issued its first ever green bond worth EUR 4 billion (USD 4.26bn), the Alpine country's Treasury (OeBFA) said on Tuesday.

The bond is due on May 23, 2049 and bears a yield of 1.876%. The Treasury has retained EUR 250 million.

The proceeds will be used to partially or fully finance green projects offering environmental and climate-related advantages.

Austria seeks to boost the share of renewables to 100% in 2030 from 75% currently. To reach its goal, the country plans to expand its installed solar capacity to produce an additional 11 TWh while wind power and hydropower should add 10 TWh and 5 TWh.

In early April, the Ministry of Climate Protection and Environment gave the green light to a EUR-300-million investment subsidy budget for green energy in 2022 which is seen to be enough to add 1 TWh of electricity.

(EUR 1 = USD 1.066)

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