ABO Wind has announced its plan to issue a green bond, aimed at financing its ongoing expansion and facilitating the integration of more wind, solar, and storage projects into the grid.
The corporate bond, with a target volume of up to €50 million, will be publicly offered, allowing investors in Germany, Luxembourg, and Austria to subscribe. For backers in Germany and Luxembourg, the subscription functionality DirectPlace of Deutsche Börse will be available starting from April 22, 2024. The subscription period is set to conclude on May 2, 2024, unless extended or shortened.
Scheduled to mature on May 8, 2029, the bond's net proceeds are designated for financing current and future renewable energy and storage projects. In line with the company's green bond framework, the funds will be primarily invested in the development and construction of wind and solar parks, as well as battery storage systems, both individually and in combination.
ABO Wind's managing director of finance, Alexander Reinicke, expressed optimism about the bond issue, stating, “Following the successful issue of a bond in 2021 that is maturing in 2030, we are now issuing a green bond for the first time in order to continue to grow and make the most of the opportunities offered by the current favorable regulatory environment in many of our markets.”
Reinicke further emphasized the company's commitment to sustainable growth, stating, “Projects with a nominal output of around 23GW are currently under development. We have thus significantly strengthened the basis for continued business development and intend to continue on this course. We are delighted when investors support us in strengthening our financial resources and help ABO Wind to make a growing contribution to the energy transition and climate protection.”
