TenneT Holding B.V. (issuer rankings A3/A-, secure outlook) efficiently launched and priced a 13.6 yr senior Inexperienced Bond subject of EUR 1 billion with a coupon of 0.875% on Tuesday November 2nd. TenneT was supported on the transaction by 6 Joint Bookrunners: BNP Paribas, Deutsche Financial institution, HSBC, ING Financial institution, NatWest Markets and SMBC Nikko.
Proceeds will likely be used to put money into eligible inexperienced energy transmission initiatives within the Netherlands and Germany centered on connecting large-scale offshore wind farms to the onshore electrical energy grid and enhancing the onshore transmission capability for renewable power. Additional particulars on these initiatives and venture choice course of are set out in TenneT’s Inexperienced Financing Framework, up to date in March 2021, for which ISS ESG has offered a Second Celebration Opinion to substantiate the alignment with the ICMA Inexperienced Bond Ideas.
Investing in inexperienced power
With annual deliberate investments anticipated to develop to roughly EUR 5 to six billion inside the subsequent 5 years, TenneT is closely investing within the power transition in Europe, making an vital contribution to fulfill nationwide local weather targets and to attach everybody to a brighter power future, while sustaining a strong monetary place.
Nearly all of TenneT’s investments are straight associated to the rise in renewable power sources, resembling wind and photo voltaic power. By 2030 TenneT expects to have realized roughly 28 gigawatt (GW) of connection capability for offshore wind farms within the Dutch and German components of the North Sea, transmitting an quantity of electrical energy adequate to help the power utilization of roughly 28 million households.
