Egypt, UNDP, EU working together to promote sustainable development in Aswan
Egypt’s Ministry of Social Solidarity, the United Nations Development Program (UNDP) and the European Union ...
The European Bank for Reconstruction and Development (EBRD) is stepping up its efforts to support renewables in Greece by supporting TERNA ENERGY with an €18 million investment in the Greek company’s successful issuance of a seven-year €150 million green bond.
The funds will finance additional investments in renewable energy projects in Greece. The projects will also contribute to the country’s target of increasing the share of renewable energy to 35 percent of its total energy consumption by 2030.
The investment is part of the EBRD’s Greek Corporate Bonds Framework, developed to extend the Bank’s support for the local corporate bond market and to strengthen its long-term viability.
TERNA ENERGY is the largest wind-electricity producer in Greece. It has 1,512 MW of renewable energy power plants in operation or under construction, primarily wind farms, located in Bulgaria, Greece, Poland and the United States of America.
Ernst & Young has verified that the bond meets the Climate Bonds Initiative’s classification as a certified climate bond.
The EBRD’s participation in the bond issuance is expected to boost market confidence and contribute to building scale and critical mass for listed bond issuances. This can demonstrate the use of a financial instrument that is not yet widely utilized by Greek corporates, including the issuance of green bonds.
In June 2017 the EBRD launched its original Greek Corporate Bonds Framework, which has successfully leveraged €760 million of listed bonds. A new framework, the €185 million Greek Corporate Bonds Framework II, was approved in June 2018, leveraging an additional €350 million to date.
The EBRD started investing in Greece on a temporary basis in 2015 to support the country’s economic recovery. To date, the Bank has invested close to €3 billion in 51 projects in the corporate, financial, energy and infrastructure sectors of the Greek economy.
Egypt’s Ministry of Social Solidarity, the United Nations Development Program (UNDP) and the European Union ...
Saudi Arabia and the United Nations Environment Program (UNEP) have launched campaigns to combat desertification, ...
Cairo Festival City Mall (CFC), owned and operated by Al Futtaim Group, announced continued partnership ...
اترك تعليقا