Polish power utility Polenergia SA has announced the upsizing of its proposed green bond issuance to PLN 750 million (approximately USD 190.4 million), following robust demand that exceeded PLN 1 billion.
The company described the overwhelming interest in the offering as a “spectacular success” in a LinkedIn post on Monday, emphasizing that the demand surpassed its expectations.
Initially, Polenergia had aimed to issue PLN 500 million in five-year green bonds, marking its first foray into such securities. The funds raised through this issuance are primarily earmarked for financing green energy projects in Poland, with a significant portion dedicated to constructing offshore wind parks in the Baltic Sea.
Among these projects is the ambitious Baltyk I, which has a potential capacity of up to 1,560 megawatts and is being developed in partnership with Norway's Equinor ASA.
Earlier this year, Polenergia launched its green bond programme, with plans to conduct its maiden offering by the end of 2024.
The first sale will be facilitated by Bank Pekao SA, mBank, and Santander Bank Polska, with Santander Bank Polska serving as the issuing agent. This initiative reflects Polenergia's commitment to advancing renewable energy projects and contributing to a more sustainable energy landscape in Poland.
