Spanish renewables company Acciona Energia has completed the placement of a €500m, 10-year green bond issuance, proceeds from which will support its plan to double its total installed renewable energy capacity.
Acciona Energia said nearly 80% of the bonds have been allocated to investors with a focus on sustainability, and geographically, 45% of the bonds were placed with investors in Germany and Austria.
The transaction is structured under an advanced green financing framework that is fully aligned with the taxonomy of sustainable activities and the strict requirements of the EU’s forthcoming green bond framework, the company said.
“With the success of this second bond placement, Acciona Energia is making progress on one of the main goals of its IPO: to ensure an optimal cost of financing in order to maximise the value generated by its growth plan,” it added.
Acciona Energia plans to increase its total installed renewable energy capacity to 20GW in 2025 from 10.7GW in 2020, with a related investment of €7.8bn.
The underwriters for the bond issuance were Banco Sabadell, BBVA, Bestinver Securities, BofA Securities, CaixaBank, Credit Agricole CIB, HSBC (B&D), ING, Mizuho and Santander.