Green power uhv energy storage convertible bond

How will the convertible bonds be used for green projects?

An amount equal to the net proceeds from the Convertible Bonds will be used for Eligible Green Projects, as defined by Nordex’ Green Financing Framework (as defined below) dated 30 March 2023. The payments of the Convertible Bonds will be guaranteed ( Bürgschaft) by Nordex Energy SE & CO.

Which companies have issued green convertible bonds?

Since May 2020, nine companies have issued green convertible bonds. Among them is Neoen, which issued the first European green convertible bond for €170m on 28 May. Neoen is a renewable energy company that builds and manages power plants in solar, wind and biomass.

What will the convertible bonds be used for?

The net proceeds from the issue of the Convertible Bonds will be used for Eligible Green Projects, as defined in the Framework: Installation, maintenance, and repair of renewable energy technologies.

What does EDF do with its green convertible bonds?

Électricité de France (EDF) sold a historic €2.4bn green convertible bond on 8 September, with the proceeds to be allocated to finance or refinance renewable energy production and storage activities consistent with EU requirements. This was followed by EDF.

Is Schneider Electric a 'green' bond?

Schneider Electric did not issue a 'green' bond, but it is notable that they launched the first sustainability-linked convertible bond in November. The performance of this bond is linked to three KPIs (CO2 emissions, gender diversity, and number of underprivileged people trained in energy management) to the cost of the coupon paid to investors.

Why did Sumitomo invest in a green convertible bond?

This transaction reaffirms the company’s commitment to aligning its renewable energy business and financing with its corporate sustainability commitments and values. Before 2020, only two green convertible bonds were issued – namely, Sumitomo Forestry (Japan) in 2018 and Link REIT (Hong Kong) in 2019.