EDF has launched an inaugural green bond issue to raise funds to deliver its growing its renewables portfolio to 50GW by 2030.
The green bonds are being issued for a maximum amount of €2.4bn.
They are due in 2024 and are convertible into new shares or are exchangeable for existing shares.
EDF has set itself the goal in 2015 of doubling its net installed renewables capacity to more than 50GW in 2030 as a core component of its Cap 2030 strategy.
EDF said that with the first green convertible bond of a jumbo size ever issued it “reaffirms its ambitions” in renewable energy and its commitment “to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive wellbeing and economic development.”
An amount equal to the net proceeds of the offering will be allocated, directly or indirectly, to the financing or refinancing of new and existing eligible projects, as defined in EDF’s Green Bond Framework.