TenneT issued its inaugural EUR 500 million Green Schuldschein, a type of privately-placed German debt similar to a bond, which will serve to finance DolWin 1, 2 and 3 projects.
The offer with an initial volume of EUR 300 million was more than two times oversubscribed, which allowed TenneT to upsize to an overall issuance volume of EUR 500 million and attract, amongst others, German savings banks and both German and international institutional investors.
The Green Schuldschein has been issued for investments in three German offshore wind transmission projects:
TenneTs investments in offshore wind energy projects across the Netherlands and Germany are expected to total EUR 7 to 9 billion over the next 10 years.
In April 2015, TenneT published a Green Bonds Framework which serves as a structure for verifying the sustainability quality (i.e. the social and environmental added value) of the projects to be financed through the issuance of Green debt instruments.