Thursday, February 2 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Jan 30
Week of Jan 23
Week of Jan 16
Week of Jan 09
Week of Jan 02
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    EnBW places EUR 1bn of green bonds to fund renewables, grid expansion

    November 17, 2022 - SeeNews Renewables


      November 17 (Renewables Now) - German electric utility EnBW Energie Baden-Wuerttemberg AG (ETR:EBK) has issued two green bonds with a combined volume of EUR 1 billion (USD 1.04bn) to finance the expansion of the power grid in southern Germany and renewable energy projects.

      The offer drew solid interest with the combined order books reaching around EUR 7 billion, EnBW said on Tuesday.

      The first EUR-500-million bond has a term of seven years and a coupon of 4.049%. The proceeds from this placement will be spent on the expansion of the power grid in the state of Baden-Wuerttemberg which is operated by EnBW's subsidiary Netze BW.

      The second note, also worth EUR 500 million, is due in four years and has a coupon of 3.625%. The fresh capital from this transaction will be invested to finance the offshore wind projects Morgan and Mona, totalling 3 GW, in the Irish Sea and the 2.9-GW Morven wind project which will be located off Scotland's coast.

      EnBW is partnering with oil and gas major BP Plc (LON:BP) on the three projects.

      Part of the proceeds from the four-year note will be used to finance onshore wind farms in Germany, among others in the states of Brandenburg, Schleswig-Holstein and Saxony-Anhalt, as well as solar farms that are already in operation in Mecklenburg-Western Pomerania and Baden-Wuerttemberg.

      “We must now accelerate the transition to carbon-neutral energy supplies in Germany, because every megawatt-hour from renewable energies reduces the dependency on fossil fuels. This is why the vast majority of our investment is allocated to grid expansion and expanding our fleet of renewables,” said CFO Thomas Kusterer.


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.