Ireland's ESB to back renewables with EUR-500m green bond sale

The Derrybrien wind farm in Ireland. Source: ESB

June 5 (Renewables Now) - Irish energy producer and distributor ESB on Tuesday issued an EUR-500-million (USD 562.8m) green bond, seeking to support green projects, including renewables, and electric vehicle (EV) charging infrastructure.

The offering of the 1.125% fixed-rate securities represents the first corporate public green bond in Ireland, ESB said in a statement. The green bond matures in June 2030.

Funds from the transaction will be allocated for eligible green projects, including renewables generation and network connections for onshore wind farms. The eligible projects will support Ireland in meeting its climate change targets and its goal of sourcing 70% of its electricity from renewables by 2030, ESB said.

The Irish firm has received more than EUR 4 billion of proposals for the bond, mainly by European institutional investors. The transaction was managed by Danske Bank (CPH:DANSKE), JP Morgan (NYSE:JPM), BBVA and Societe Generale (EPA:GLE).

(EUR 1.0 = USD 1.126)

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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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