bond

European electricity transmission system operator (TSO) TenneT has issued its second Green Bond worth €1bn for investing in the transmission of renewable electricity from offshore windfarms to the onshore electricity grid.

The proceeds have been used to invest in different offshore projects, which include DolWin1, a 165km high voltage direct current (HVDC) link with 800MW capacity; DolWin2, a 135km HVDC link with 916MW capacity; DolWin3, a 162km HVDC link with 900MW capacity; and BorWin3, a 160km HVDC link with 900MW capacity.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

TenneT’s chief financial officer Otto Jager said: "This second consecutive Green Bond issue demonstrates that the green project portfolio approach works very well.

"Adding one further offshore German wind transmission project to the programme provides us the possibility to continue the issuance of Green Bonds.

"Adding one further German wind transmission project to the programme provides us the possibility to continue the issuance of Green Bonds."

"This underpins TenneT’s ambition to be the best performing TSO in Northwest Europe in terms of Corporate Social Responsibility."

The dual tranche green bond has been issued with the support of five banks, including Barclays, Deutsche, ABN AMRO, BNP Paribas, and SMBC Nikko Capital Markets.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

TenneT Green Bonds can be used to finance the company’s other sustainable projects in Germany, as well as for Dutch offshore projects, which would connect offshore windfarms to the Dutch grid.

Over the next ten years, the company’s investments in offshore wind energy projects across Germany and the Netherlands are expected to reach €8bn-€10bn.

Image: TenneT’s offshore converter platform DolWin beta. Photo: courtesy of TenneT Holding B.V.