Innogy issues bond to fund wind farms.

Courtesy of Innogy.

Germany’s largest energy group, Innogy, has issued a bond of 850 million euros ($1.01 billion) to refinance four offshore wind farms in Britain and Germany as well as an onshore wind farm in the Netherlands that is either under construction or already operating.

Innogy chief financial officer Bernhard Günther said: “Innogy is a sustainable company by conviction and business model.

“Setting up a Green Bond Framework and issuing the first benchmark corporate green bond in Germany is a logical step to underline this position.”

The bond has a 10-year maturity with a coupon rate of 1.25% and was oversubscribed “several times”, the company said. The bond was met with “strong interest from investors and was oversubscribed several times”, Innogy said.

The news comes after the company acquired Statkraft’s 50 per cent share in Triton Knoll offshore wind project.

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