Energie Baden-Württemberg AG (EnBW) is one of the largest electricity suppliers in Germany, with its historical roots in the region of Baden-Württemberg. They supply services to 5.5 million customers across Germany, Czech Republic and Switzerland.
In 2017, renewable energy (excluding nuclear generation) comprised 26% of their generation mix, and they have a target increasing this to 40% in 2020.
This is their first green bond and the proceeds will be used to finance and refinance their investments in onshore solar, onshore wind, electric vehicle charging infrastructure and 2 offshore wind farms in the German North Sea (Hohe See and Albatros, with a combined capacity of 610MW)
In 2020, their issuance was used to refinance their acquisition of Valeco, the French wind power and solar company, which has a combined installed capacity and project pipeline of 1.7GW generation.
The company has a goal of 50% generation coming from renewables, by 2025.
| NAME OF BOND |
DATE OF ISSUE |
TYPE OF INSTRUMENT |
SIZE |
TENOR |
JURISDICTION OF ISSUE |
CLIMATE BONDS SECTOR CRITERIA |
VERIFIER'S REPORT |
ANNUAL REPORT | FURTHER INFORMATION |
| EnBW Inaugural Green Bond | October 2018 | Use of Proceeds | EUR 500m | 15 years | Germany | Solar, Wind, Marine Renewable Energy, Low Carbon Transport | |||
| Green Hybrid Bond | August 2019 | Use of Proceeds | EUR 1 billion | 60 years | Germany | Solar, Wind, Marine Renewable Energy | |||
| Surbordinated Bond | June 2020 | Use of Proceeds | EUR 500 million (USD 568 million) | 60 years | Germany | Solar, Wind | Pre Issuance Verification | Press Release |