TenneT Issues EUR 1 Billion Green Bond

Transmission system operator (TSO) TenneT Holding B.V. has launched and priced another EUR 1 billion Green Bond issue.

Source: TenneT

The proceeds will be used for investments in the transmission of renewable electricity from offshore wind farms to the onshore electricity grid.

This green bond follows the first ever green hybrid of EUR 1 billion issued earlier in 2017 and totals all green issuances to EUR 5 billion.

The 2017 Green Bond issuances will be used to finance further expenses of projects that have already been part of a portfolio consisting of eligible projects: DolWin1, DolWin2, DolWin3, BorWin3, SylWin1 and BorWin2. In June 2017, BorWin1 and HelWin1 were added to this portfolio.

TenneT’s investments in offshore wind energy projects across the Netherlands and Germany are expected to total EUR 9 to 11 billion over the next 10 years.

In the period up to 2019, TenneT is realizing over 7 gigawatts (GW) of connection capacity for offshore wind farms in the German sector of the North Sea, transmitting electricity equivalent to the annual power consumption of approx. 10 million households.

By 2023, TenneT expects to have realized 3.5 GW of connection capacity in the Dutch sector of the North Sea, corresponding to the annual power consumption of close to 5 million households.