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.

 

Energie Baden-Württemberg AG

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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

Pre Issuance Verification Statement

Post issuance verification

 

EnBW Press Release

EnBW Green Bond website

Green Financing Framework

Offshore wind farms Hohe See and Albatros

Green Hybrid Bond August 2019 Use of Proceeds EUR 1 billion 60 years Germany Solar, Wind, Marine Renewable Energy

Pre Issuance Verification Statement

post issuance verification

 

Press Release

Green Financing Framework July 2019

press release for post issuance

Surbordinated Bond June 2020 Use of Proceeds EUR 500 million (USD 568 million) 60 years Germany Solar, Wind Pre Issuance Verification   Press Release