RWE Issues €2 billion Green bond For Renewable Play

Highlights :

  • The bond was issued in two tranches of €1 billion each. The maturities of the two will take place in 2026 and 2030.
  • As stated in the RWE Green Bond Framework, wind and solar projects are eligible for green bond funding.

In a major announcement, RWE has said that it has successfully issued a green bond with a total volume of €2 billion. The bond was issued in two tranches of €1 billion each. The maturities of the two will take place in 2026 and 2030.

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RWE has said that for the first tranche, the yield-to-maturity amounts to 2.2%, based on a coupon of 2.125% per annum and an issuance price of 99.652%. For the second tranche, the yield-to-maturity amounts to 2.9%, based on a coupon of 2.75% per annum and an issuance price of 99.287%. The issuance met with strong interest from investors.

In 2021 also, RWE had issued two green bonds with a total volume of €1.85 billion. The company says that, as stated in the RWE Green Bond Framework, wind and solar projects are eligible for green bond funding. This is in line with the United Nations’ Sustainability Goal number 7 to increase the share of renewable energies in the worldwide electricity mix.

RWE claims that its also massively stepping up the pace and is investing €50 billion gross in its core business by 2030 which is in line with its strategy ‘Growing Green’. The company is expanding its portfolio to 50 GW in the attractive markets of Europe, North America, and the Asia-Pacific Region.

RWE looks to expand its green energy generation capacity to 50 GW internationally by 2030. Hence, it is investing €50 billion gross for this purpose in this decade. The portfolio is based on offshore and onshore wind, solar, hydrogen, batteries, biomass and gas. RWE Supply & Trading provides tailored energy solutions for large customers. RWE is present in the markets of Europe, North America and the Asia-Pacific region.

As per RWE, its responsibly phasing out nuclear energy and coal. Government mandated phase-out roadmaps have been defined for both of these energy sources. Presently, RWE employs around 19,000 people worldwide and has a clear target to get to net zero by 2040. RWE has also set itself ambitious targets for all activities that cause greenhouse gas emissions. The Science Based Targets initiative has confirmed that these emission reduction targets are in line with the Paris Agreement.

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