Renewable

May 18 (Renewables Now) - RWE AG (ETR:RWE) has issued a green bond of EUR 2 billion (USD 2.1bn) to raise capital for its Growing Green strategy that envisages gross investments of EUR 50 billion in renewable energy by the end of the decade.

The note consists of two tranches of EUR 1 billion each with maturities in 2026 and 2030, the German power company said on Tuesday. The first tranche has a coupon of 2.125% p.a. and an issuance price of 99.652% while the second tranche bears a coupon of 2.75% p.a. and has an issuance price of 99.287%.

RWE noted that the transaction enjoyed strong investor interest.

The latest bond follows the issue of two green bonds with a total volume of EUR 1.85 billion last year.

The Essen-based energy group will use the proceeds to finance its plan for massive investments in renewable energy. Under RWE's Green Bond Framework, solar and wind projects are entitled to receive financing from green bond issues.

With the Growing Green strategy, RWE aims to expand its green portfolio to 50 GW across Europe, North America and the Asia-Pacific region.

(EUR 1 = USD 1.054)

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