EBRD investing $75 mln in green bond of Turkey’s Aydem Renewable Energy
Photo: EBRD/ All rights reserved.
The European Bank for Reconstruction and Development (EBRD) said on Monday that it is investing $75 million (63.8 million euro) in a debut green Eurobond issued by Turkey's Aydem Renewable Energy.
"Aydem Renewable Energy raised $750 million from its inaugural issuance, which was oversubscribed with orders for $1.6 billion. This was the largest green corporate Eurobond issued in Turkey to date and one of the country’s biggest ever placements," the EBRD said in a statement.
The bond is independently certified as compliant with the International Capital Market Association’s Green Bond Principles and will set a benchmark for the Turkish renewable energy sector, the EBRD added.
Aydem Renewable Energy, which is focused exclusively on renewable energy sources, operates 20 hydro plants, three wind-power plants, one geothermal plant and one biogas plant in four Turkish regions, with a total installed capacity of 1,020MW, according to the statement.
Istanbul-based Aydem Renewable Energy started its operations in 1995 by accomplishing Turkey's first private hydro power plant. Currently, the company generates 3,930 GWh of energy annually, according to information published on its website.