TagEnergy closes EUR-570m green bond issuance

Renewables developer TagEnergy SA announced today it has raised EUR 570 million (USD 608.5m) by issuing a dual currency green bond with co-investments from Copenhagen Infrastructure Partners (CIP) and Singaporean institutional investor GIC.

TagEnergy said it will use the green bond proceeds to fund its global pipeline of more than 4 GW of renewables.

Controlled by the Impala SAS Group and supported by major investors Mirova and Omnes, TagEnergy was founded in 2019 to develop onshore wind, solar photovoltaic (PV) and battery energy storage systems (BESS) projects across the UK, Europe and Australia. The company has now reached financial close on several developments, including the 756-MW first stage of the 1.3-GW Golden Plains Wind Farm project in the Aussie state of Victoria and four British BESS facilities totalling 169 MW.

The green bond has been issued in two tranches, one in Australian dollars and one in euro. TagEnergy noted that the first tranche of EUR 270 million equivalent will be added to the existing funding sources for the construction of Golden Plains’ first stage. The second, of EUR 300 million equivalent, will support other renewable energy assets globally.

Akereos Capital has served as the sole bookrunner, structurer and exclusive debt advisor to TagEnergy in relation to the green bond issuance. Registered at Interbolsa, the notes represent a significant issuance in the Portuguese bond market, the company added.

(EUR 1.0 = USD 1.068)

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