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.

 

Panasolar

The solar power plant is located in Aguadulce district, province of Coclé, Republic of Panamá. At the moment, the facility has 9.9MW installed capacity and the bond will support the expansion of the facility. The solar facility is registered under the Gold Standard, which allows the asset to be used for carbon credits.

This is the first verification work by PCS, and the first Certification in Panama.

Panasolar is a company set up in Panama, in order to develop solar power generation assets in Panama and the local region.

As of late 2019, Panama had 165MW of installed solar generation capacity. A mixture of local and international players are currently developing large amounts of new solar generation assets. Currently, about half of the country’s electricity generation comes from hydropower.

 

DATE OF ISSUE

TYPE OF INSTRUMENT

SIZE

JURISDICTION OF ISSUER

CLIMATE BONDS SECTOR CRITERIA

VERIFIER'S REPORT

ANNUAL REPORT FURTHER INFORMATION
August 2020 Use of Proceeds Bond USD 15 million Panama Solar pre issuance verification  

news article about bond

press release by PCS

Green Bond Framework

original news article in 2019 about the solar PV facility

 

 

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