Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

Eurogrid


 

Eurogrid is an electric utility company, based in Berlin. It wholly owns 50Hertz Transmission, which operates the electricity grid throughout east and northern Germany, as well as owning and operating offshore wind farms in the Baltic Sea, which can connect to the German grid. These wind farms are 90km from the German mainland.

This issuance will finance and refinance two offshore connections, Ostwind 1 and Ostwind 2, which connect to wind farms in the Baltic Sea, which collectively have an installed capacity of approximately 1.5GW. Otswind 1 was completed in 2019, and Ostwind 2 is currently in development.

More details may be found in the Green Bond Framework and corresponding webpages.

This is the first Certified Climate Bond to be linked explicitly to offshore wind connections.

 

Ostwind 1 Ostwind 2

 

DATE OF ISSUE

TENOR TYPE OF INSTRUMENT

SIZE

COUNTRY OF ISSUER

CLIMATE BONDS SECTOR CRITERIA

VERIFIER'S REPORT

ANNUAL REPORT FURTHER INFORMATION
May 2020 12 years Use of proceeds bond EUR 750 million (USD 812 million) Germany

Marine Renewable Energy

pre issuance verification

 

green bond webpage

Green Bond Framework