German energy group innogy has issued €850m in an inaugural corporate green bond to refinance wind energy projects across Europe.

Proceeds from the bond are to be used to refinance four offshore wind projects in the UK and Germany, as well as an onshore wind farm in the Netherlands.
innogy
The projects are either under construction or already in operation. They have a combined capacity to generate 3TWh of power annually, enough to power roughly 830,000 households.

Innogy chief financial officer Bernhard Günther said: “innogy is a sustainable company by conviction and business model. Proceeds from the bond are expected to be used to refinance four offshore wind projects in the UK and Germany. Setting up a Green Bond Framework and issuing the first benchmark corporate Green Bond in Germany is a logical step to underline this position.”

innogy further noted that its Green Bond Framework comprises energy efficiency and eMobility projects.

ABN AMRO Bank, SociétéGénérale, DZ Bank, Hongkong and Shanghai Banking (HSBC), Landesbank Baden-Württemberg (LBBW) and Mitsubishi UFJ Financial Group (MUFG) were involved as bookrunners of the latest issuance.