TenneT opens EUR-1.25bn green bond sale

The Borkum Riffgrund 1 offshore wind farm. Source: Dong Energy A/S. License: All rights reserved.

May 21 (Renewables Now) - Dutch transmission grid operator (TSO) TenneT has launched a EUR-1.25-billion (USD 1.39bn) green bond placement in support of projects that will link offshore wind farms to the mainland in Germany and the Netherlands.

The issue consists of a EUR-500-million tranche with an 11-year term and a coupon of 0.875%, as well as a EUR-750-million tranche with a duration of 20 years and a 1.5% coupon. Funds from it will go to back investments in green energy projects to connect large-scale offshore wind parks to the mainland power network.

The offering is supported by ABN AMRO, Barclays, HSBC, NatWest Markets and SMBC. It is in line with TenneT’s plan to invest EUR 35 billion in offshore and onshore grid connections in the Netherlands and Germany in the next 10 years.

The Dutch company expects to have around 25 GW of connected capacity for offshore wind farms in Dutch and German waters by 2030.

(EUR 1.0 = USD 1.115)

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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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