The European Bank for Reconstruction and Development (EBRD) has invested €18m in Greek company Terna Energy’s €150m green bond to help finance renewable energy projects in Greece.
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 market’s long-term viability.
EBRD said the projects will also contribute to the country’s target of increasing the share of renewable energy to 35% of total energy consumption by 2030.
Ernst & Young verified that the bond meets the Climate Bonds Initiative’s classification as a certified climate bond, the bank said.
“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,” EBRD said.