DTEK Renewables has issued green bonds totalling €325m to finance clean power projects, the first Ukrainian company to issue specialized securities to fund renewables.
The green Eurobonds have a maturity of five years and pay a rate of 8.5% per year.
DTEK said it will use a public reporting system that details exactly how the funds are being distributed in relation to particular projects in order to ensure transparency and accountability.
The information will be put in a report that will be published on the company’s website until the loan is repaid.
The bonds will be listed on the Euronext Dublin Exchange as of 12 November.
DTEK chief executive Maxim Timchenko said: “Green Eurobonds are a new tool for Ukrainian companies to attract investment for the development of our renewable energy sector.
“It is thanks to the entire DTEK team that we have successfully issued these first green Eurobonds.
“As a company, we have created the expertise that allows us to implement large-scale and ambitious projects, and which demonstrate to international investors the high professionalism of Ukrainian companies.
“The issuance of these green Eurobonds represents a major milestone for the Ukrainian energy sector.
“Ukraine has a unique opportunity to create a modern energy system: clean, efficient, competitive.
“The use of green Eurobonds provides an attractive and highly effective financial mechanism to support Ukraine’s transition to a more balanced energy system with lower CO2 emissions.”