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Baseload Capital sells USD-54m green bond for low-temp geothermal

Geothermal power station. Featured Image: N.Minton/Shutterstock.com

March 18 (Renewables Now) - Swedish heat power investor Baseload Capital has issued a SEK-500-million (USD 54.1m/EUR 47.8m) green bond, seeking to support low-temperature geothermal heat projects.

This is the first green bond offering for the company and the first one in Sweden focused on low-temperature geothermal heat power. Funds from the sale will be used for investment and development of projects in the specific sector on a global level, Baseload Capital said in a press release on Thursday.

The offering of the senior secured green bond has attracted “considerable” interest among Nordic institutional investors. It was arranged by DNB Markets, which also acted as advisor in the sale.

“The response, interest in and support from investors for what we are doing has been extremely positive,” said Alexander Helling, CEO of Baseload Capital. The Swedish entity was set up at the start of 2018 as a project financing company to accelerate global geothermal heat power projects. Its owners are Swedish cleantech vendor Climeon AB, Stockholm-based investor Blue AB, Breakthrough Energy Ventures, Gullspang Invest AB and LMK Forward.

(SEK 1.0 = USD 0.108/EUR 0.096)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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