Subscribe today and receive an extra account for free.
Subscribe
Author: Matt Berlin. License: Creative Commons, Attribution-ShareAlike 2.0 Generic
December 4 (Renewables Now) - Investment company Aquila Capital announced a EUR-50-million (USD 56.9m) "dark green" bond offering to finance the growth of Norwegian small hydropower plants (HPPs) operator Smakraft AS.
Aquila Capital said on Monday that the senior secured green bond has a term of five years, with the annual interest at 1.9 points above the Euro Interbank Offered Rate (Euribor). The securities are traded on the Oslo stock exchange.
Bergen-based Smakraft runs more than 100 small HPPs in Norway that have the capacity to generate over 1 TWh of electricity a year. The company’s goal is to double its annual electricity production to 2 TWh by 2022.
The green bond will support Smakraft’s expansion in the Norwegian hydropower sector through acquisition of existing facilities and construction of new run-of-river plants. More particularly, the Aquila Capital-owned company plans to buy four HPPs and refinance seven of the assets it already owns.
Funds from the sale will also be allocated to refinance outstanding debt and cover general corporate needs.
Aquila Capital bought Smakraft AS on behalf of its investors in 2015 and then merged it in 2017 with Norsk Gronnkraft.
(EUR 1.0 = USD 1.139)
SPI Energy to buy up to 21 MW of solar assets in Oregon
Jul 23, 2019 17:17 CEST
Engie erects 1st turbine for 208-MW wind park in Norway
Jul 23, 2019 14:08 CEST
Scatec Solar says Q2 was best quarter ever
Jul 22, 2019 9:30 CEST
Statkraft's wind, solar EBIT doubles in H1 2019
Jul 18, 2019 15:03 CEST
Weekly renewables M&A round-up (July 8-14)
Jul 15, 2019 8:31 CEST
Eolus agrees to sell 400-MW Norwegian wind project to Aquila
Jul 12, 2019 11:16 CEST