European Energy backs renewables growth with EUR-75m green bond sale

Source: European Energy

September 9 (Renewables Now) - Danish renewables developer European Energy A/S on Thursday kicked off an offering of EUR 75 million (USD 74.9m) worth of senior green bonds, seeking to raise fresh funds for its renewable energy projects.

The bonds mature in 2026 and bear an interest of three-month Eurobor plus a margin f 5.75% year. They will be listed on Nasdaq’s Sustainable Debt platform, European Energy said.

“The construction of new renewable capacity relies on efficient and scalable funding and with this bond, we can increase our construction activity,” commented Knud Erik Andersen, CEO of European Energy. He pointed out that the market environment is “subject to a significant shift” due to the high power prices and increased construction costs.

Currently, the Danish firm has three bonds totalling EUR 525 million, including the latest issue. With operations in 26 countries, it has more than 40 MW of renewable energy projects in its development pipeline and is working on the construction of over 1 GW of plants that are planned to go online by the end of this year.

(EUR 1.0 = USD 0.999)

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