United Kingdom

United Kingdom

SSE issues 'largest ever' green bond by UK company

UK: SSE has issued what it claims is the biggest ever green bond by a UK company in a bid to raise €600 million.

Turbines at the SSE-owned 68MW Keadby site in north Lincolnshire, England (pic: SSE)
Turbines at the SSE-owned 68MW Keadby site in north Lincolnshire, England (pic: SSE)

The energy company will use capital raised through the eight-year 0.0875% £556 million (€600 million) green bond to refinance its portfolio of onshore wind farms, it said.

The energy company owns the 71.8MW Gordonbush site and 119.5MW Hadyard Hill project, both in northern Scotland, as well as many others. SSE has over 3.3GW of renewable generation in the UK.

It is also the 228MW Stronelairg site in the Scottish Highlands, as well as other wind farms currently under construction, and developed the Clyde and Clyde Extension wind farms in southern Scotland, which will have a combine capacity of 522.4MW when completed.

Green bonds are tax exempt savings funds specifically linked to renewables projects on bronwfield sites. 

Climate change presents a long-term risk to investors, but investing in a green bond helps to mitigate that risk, SSE said.

Gregor Alexander, finance director of SSE, said: "In line with our innovative approach to financing investment and as major investor in the UK and Ireland’s renewable energy infrastructure, we are pleased this new issuance shows our commitment to SSE’s sustainability and responsibility principles.

"At the same time we are being consistent with our commitment to maintaining a strong balance sheet and strong market rating, allowing this funding to be secured at very attractive pricing."

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Sign up now
Already registered?
Sign in