Faro Energy Issues Brazil’s First Certified Green Bond for Solar
Distributed Solar Co Adopts Best Practice in Green Finance
LONDON / SAO PAULO, 10/07/2018: Faro Energy has issued the first Certified Green Bond for solar energy in Brazil.
The bond will be used to finance distributed solar power projects across Brazil. The Brazilian solar market is growing rapidly and green financing solutions are critical to enable the market to scale.
While Climate Bonds Certified Green Bonds have previously been issued for wind projects in Brazil and for solar bond financing in Australia, India, Mauritius, Morocco, Nigeria, Singapore, the US and Europe, this is the first time that a Certified Green Bond is being used for solar in Brazil.
This bond has been verified by Bureau Veritas, a leading international verification agency, and Certified according to the Climate Bond Standard & Certification Scheme.
Sarah Chapman, CEO of Faro Energy
“We believe that innovative green finance mechanisms like Green Bonds will be transformational for the distributed solar sector in Brazil over the coming years. We are very proud to achieve this significant milestone for both Faro Energy and the industry more broadly.”
Sean Kidney, CEO of Climate Bonds Initiative
“This issuance is a new foundation for best practice as Brazil's Green Bond market develops. With such a large demand for clean energy, there is enormous potential for offshore investment in solar as part of the low carbon energy mix. Congratulations to Faro Energy for taking the lead in this sector!”
About Faro Energy
Faro Energy identifies, develops and finances distributed solar energy projects in emerging markets. It is currently focused on solar for commercial and industrial customers in Brazil and Colombia. Faro has offices in Sao Paulo, Barranquilla and London.
Faro Energy is proud to be a Certified B Corporation.
About Climate Bonds
The Climate Bonds Initiative is an investor-focused not-for-profit, promoting large-scale investment in the low-carbon economy. It undertakes advocacy and outreach to inform and stimulate the market, provides policy models and government advice, market data and analysis and administers the Standards & Certification Scheme.
For more information, please visit www.climatebonds.net.
About Climate Bonds Standards
Climate Bonds Standard 2.1 is an overarching science based multi-sector standard that allows investors and intermediaries to easily assess the climate credentials and environmental integrity of bonds claiming to be green and funding the low carbon future.
For more information, please contact:
Pedro Araujo Mateus, CFO, Faro Energy (firstname.lastname@example.org) +55 11 99923 4817
Chris Hartle, Director, Financial Strategy, Faro Energy (email@example.com) +55 11 5093 6208
Andrew Whiley, Head of Communications, Climate Bonds (firstname.lastname@example.org) +44 (0) 7506 270 943