Orsted has secured nominal TWD12bn (€355m) through a green senior bond issue to finance its investments in offshore wind in Taiwan, the first transaction of its kind on the island by a foreign corporate.
The funds will help finance the 900MW Greater Changhua 1&2a offshore wind project.
Orsted chief financial officer Marianne Winholt said: “We are proud to help develop the local financial market with respect to green financing and this underlines our commitment to Orsted’s activities in Taiwan”.
The bonds will be issued in accordance with Orsted’s Green Finance Framework.
The pricing of the unsecured green senior bonds of nominal TWD12bn comprise a seven-year TWD4bn fixed-rate tranche and a 15-year TWD8bn fixed rate tranche.
Both tranches have settlement on 19 November 2019.
Orsted Asia Pacific president Matthias Bausenwein added: “The green bond issuance today demonstrates our ambition to build strong ties with local financial institutions and to create an active green bond market to support the long-term development of the offshore wind industry in Taiwan.”
The bonds will be listed on the Taipei Exchange.
Greater Changhua 1&2a is located between 35km and 60km off the west coast of Changhua County, Taiwan and will feature Siemens Gamesa 167-8.0MW turbines. Installation work starts in 2021.