EBRD invests US$75 million in sustainability-linked Eurobond issued by Ukrenergo

 

The European Bank for Reconstruction and Development (EBRD) is investing US$75 million in the US$825 million sustainability-linked bond issued by Ukraine’s national power company, Ukrenergo, in a bid to resolve the payments crisis gripping the country’s renewable energy sector.

It is the first sustainability-linked bond issued by a Ukrainian company and the EBRD's participation as the anchor investor provided comfort to other institutional investors, further widening the market participation.

The proceeds will cover all payment arrears owed to renewable energy producers. The investment will help to restore the credibility of the Ukrainian renewable energy sector and boost the confidence of private investors and financiers, paving the way for much-needed investment to support the country’s green transition.


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PPC accelerate investments in renewable energy in Greece and south-eastern Europe

 

The European Bank for Reconstruction and Development (EBRD) is supporting the transformation of the Public Power Corporation (PPC), Greece’s largest power producer and electricity supplier, with an investment of €75 million in the company’s €1.35 billion share-capital increase.

The EBRD’s proceeds will be used exclusively for renewable energy assets and will explicitly exclude any fossil fuel assets.

The new capital will enable PPC to accelerate its investments in renewable energy, both in Greece and in south-eastern Europe, and to become a financially and environmentally sustainable, modern and digital utility. As a result of the transaction, PPC also aims to benefit from a more diversified investor base that has a greater focus on environmental, social and governance (ESG) issues.

PPC has a total capex target of €6 billion for 2022-24, of which €3.2 billion is expected to be invested in renewable energy and €1.0 billion in electricity distribution. The firm’s rapid programme for phasing out lignite will be complemented by a massive increase in renewable energy capacity, which is expected to grow from 3.4 GW in 2021 to 8.4 GW in 2026.

source www.ebrd.com/news


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Office of Sustainability and the Green Economy at The National Bank of Romania

 

The National Bank of Romania has set up an internal structure, the Office of Sustainability and the Green Economy, in order to further explore the implications of climate change in the Romanian banking sector, according to a statement from the institution.

"On September 16, 2020, the National Bank of Romania became a member of the Network of Central Banks and Supervisors for the Greening the Financial System (NGFS). The National Bank of Romania has taken steps to identify, develop and use certain specific tools to analyze the risks posed by climate change in the process of implementing the financial stability policy, a research analysis that is highlighted in the latest editions of the Financial Stability Report, such as the December edition 2019 ", it is said in the declaration of commitment of the National Bank of Romania, as an institutional member of the Network for Greening the Financial System.


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Romanian Energy on a Sunday

 


The Cernavoda nuclear power plant is the main source of energy production, on Sunday morning, providing 25% of the national total, according to Transelectrica data.

In second place is coal, with 24.4%, followed by hydrocarbons - 24.2%, hydro - 17.1%, wind - 6.5%, photovoltaic - 1.9%, biomass - 0.8% .

At 9:30, the country's electricity consumption was 5,951 MW, production of 5,661 MW, and the difference of 290 MW was imported.


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