SSE has laid the ground for the issue of a green bond to help fund renewable energy projects and related grid infrastructure.
The Scottish utility on Friday published a prospectus for up to €10bn as well as a Green Bond Framework to govern how proceeds will be distributed.
Cash raised through the bond will be spent on refinancing £1.1bn of onshore wind farm projects including the Slieve Divena 2, Strathy North, Gaway, Tievenameenta and Dunmaglass in Scotland and Ireland.
Proceeds will also help to fund the Bhlaraidh, Leanamore, Clyde 2 and Stronelairg wind farms, all of which are due to be completed within the next two years, again in Scotland and Ireland.
Also in the frame for potential investment are UK offshore wind projects and transmission upgrades across the north of Scotland.
SSE said the bond would support action to combat climate change and finance “renewable energy in the UK and Ireland and the connection of future renewable generation to the UK energy system”.
Image: the Clyde wind farm (SSE)
