TenneT issues new EUR 1.35 billion Green Bond

In: Windfarms
17/11/2020
TenneT Holding B.V. (issuer ratings A3/A-) launched and priced a Green Bond issue of EUR 1.35 billion, split in two tranches of EUR 600 million (term: 12 years, coupon 0.125%) and EUR 750 million (term: 20 years, coupon 0.500%) with the support of 6 Joint Bookrunners: ABN AMRO, Commerzbank, Lloyds Bank, NatWest Markets, Rabobank and SMBC Nikko.

Proceeds will be used to invest in green projects in the Netherlands and Germany focused on connecting large scale offshore wind to the onshore electricity grid and enhancing the onshore transmission capacity for renewable energy. Further details on the projects and project selection process are set out in TenneT’s Green Financing Framework.

Otto Jager, TenneT’s Chief Financial Officer, said: “I am pleased to see that such a broad cross-section of European investors continue to have a keen interest in financing the energy transition."

In order to implement the sustainable energy policies of the Netherlands and Germany, drive the energy transition and carry out large-scale maintenance work on its high-voltage grids, TenneT's annual investments are expected to grow from 3 billion, to approximately EUR 4 to 5 billion a year in the next five years.

The majority of TenneT's investments are directly related to the increase in renewable energy sources, such as wind and solar energy. In the period up to 2030, TenneT expects to have realised approximately 28 GW of connection capacity for offshore wind farms in the Dutch and German parts of the North Sea, transmitting an amount of electricity to support the energy usage of approximately 28 million households.


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