European Energy backs renewables growth with EUR-75m green bond sale
- Danish renewables developer European Energy A/S on Thursday started an offering of EUR 75 million (USD 74.9 m) well worth of elderly green bonds, seeking to raise fresh funds for its renewable energy projects.
The bonds mature in 2026 as well as bear a passion of three-month Eurobor plus a margin f 5.75% year. They will certainly be listed on Nasdaq's Lasting Debt platform, European Energy said.
"The building and construction of new renewable capacity depends on efficient and also scalable financing and also with this bond, we can raise our construction activity," commented Knud Erik Andersen, Chief Executive Officer of European Energy. He explained that the market environment is "subject to a significant change" due to the high power costs and also raised construction expenses.
Currently, the Danish company has 3 bonds totalling EUR 525 million, including the latest issue. With operations in 26 nations, it has greater than 40 MW of renewable resource projects in its development pipeline as well as is dealing with the building of over 1 GW of plants that are prepared to go online by the end of this year.
