EBRD Invests in TERNA ENERGY Green Bond

The EBRD is stepping up its efforts to support renewables in Greece by supporting TERNA ENERGY with an EUR 18 million investment in the Greek company’s successful issuance of a seven-year EUR 150 million green bond. The funds will finance additional investments in renewable energy projects in Greece. The projects will also contribute to the country’s target of increasing the share of renewable energy to 35% of its total energy consumption by 2030. The investment is part of the EBRD’s Greek Corporate Bonds Framework, developed to extend the Bank’s support for the local corporate bond market and to strengthen its long-term viability.

TERNA ENERGY is the largest wind-electricity producer in Greece. It has 1,512 MW of renewable energy power plants in operation or under construction, primarily wind farms, located in Bulgaria, Greece, Poland and the United States of America.

Ernst & Young has verified that the bond meets the Climate Bonds Initiative’s classification as a certified climate bond.

The EBRD’s participation in the bond issuance is expected to boost market confidence and contribute to building scale and critical mass for listed bond issuances. This can demonstrate the use of a financial instrument that is not yet widely utilised by Greek corporates, including the issuance of green bonds.

Source : STRATEGIC RESEARCH INSTITUTE, SEELGURU