The African Development Bank this week tapped its "Green Bond Framework" to place SEK1 billion ($153m) of five year, floating rate bonds with SPP, the wholly-owned Swedish Life Insurance and Asset Management company of Storebrand.
Bond Proceeds go to eligible projects under to AfDB’s Green Bond Framework: renewable energy power, biosphere conservation projects, water supply and access, solid waste management as well as energy efficiency projects. They include:
- Africa’s largest 160 MW Solar Power Plant, Ouarzate I, in Morocco
- Itezhi Tezhi 120MW Hydro Generation Project in Zambia
- ONEE Integrated 1100MW Wind/Hydro power plant in Morocco
- Eskom Sere 100 MW Wind Farm in South Africa
- Cabeólica 25.5 MW Wind power plant in Cape Verde
Lead Manager for the placement was Nordea Markets.