RWE has issued a further green bond with a total value in excess of €1bn to invest exclusively in wind and solar projects.
The bond was issued in two tranches of €750m, with seven-year tenor, and €600m, with 12-year tenor, respectively.
It follows RWE’s first green bond issue earlier this year valued at €500m.
RWE chief financial officer Michael Muller said: “The response to the second green bond issued by RWE underlines that our investors support our investment and growth strategy ‘Growing Green’.
“The proceeds will exclusively go into wind power and solar projects.
“We will be investing €50bn gross in expanding our powerful, green portfolio to 50GW through to 2030.
“We have the financial basis to do this – due to our outstanding creditworthiness we have excellent access to the financial market and have strong cash flows from operating activities, from which we are funding by far the largest share of our growth programme.”
As stated in the RWE Green Bond Framework, only wind and solar projects are eligible for green bond funding.
This is in line with the United Nations’ Sustainability Goal 7.
With its new strategy “Growing Green”, RWE is “stepping up the pace” and is investing €50bn gross in its core business, which averages out at €5bn gross each year for offshore and onshore wind, solar, batteries, flexible generation and hydrogen.
The company is expanding its portfolio by 25GW net to 50GW in Europe, North America, and the Asia-Pacific Region.