- Press Releases
April 5 (Renewables Now) - A shovel-ready wind project in Estonia with a planned capacity of 100 MW is launching a EUR-150-million (USD 164m) green bond to secure funding for its construction.
Estonia-based technology innovation firm Eleon Green AS is the company that leads the Aidu Wind Farm project and is the manufacturer of the 30 turbines that will make up the facility in northeast Estonia. Through the bond issuance, it seeks to obtain the needed funding to complete the fully-permitted scheme by 2025.
According to the announcement, Aidu will be the last beneficiary of a high-level fixed-rate government subsidy spanning 12 years at EUR 53.7 per MWh.
The 12-year green bond will be structured by UK-based Bedford Row Capital Plc and issued by green bond issuance platform Sustainable Capital Plc.
“There is a shortage of institutional capital for mid-size projects creating above-average returns ‘greenium’ for high-impact projects. By democratising access to capital, BRC hopes to bridge that gap, and the Aidu is a perfect example of this,” stated Scott Levy, CEO of BRC.
(EUR 1.0 = USD 1.094)