National Australia Bank now investing in renewable energy in Europe, US and UK
NAB taps offshore green bond market for 1.1GW of solar, wind, REneweconomy, By Sophie Vorrath on 2 March 2017 National Australia Bank has broadened its renewable energy investment reach to the European, US and UK markets, with the issuance this week of a €500 million ($A690 million) green bond, targeting what the bank describes as “strong investor demand” for solar and wind energy projects.
The bond, issued on Thursday, will refinance renewable energy and low carbon transport projects and assets in the UK, Europe, Australia and the Americas, including wind and solar energy assets with an expected installed capacity of more than 1GW.
It is the third bond of its kind to be issued by NAB, but marks the first issuance of an offshore green bond by an Australian bank, and the biggest ever green bond from an Australian issuer.
And it takes the bank’s total funds committed to the financing of renewable energy generators, globally, to more than $1 billion since October 2016, the bank says.
In 2014, NAB became the first Australian lender to jump into the booming green bond market, with the issue of a certified $150 million climate bond targeting a portfolio of 17 wind and solar projects.
As we reported here at the time, the largely renewable-focused exercise was a huge success, with strong investor demand doubling the size of the bond to $300 million within hours.
NAB it says its second green bond was also met with strong investor demand, and the order book well oversubscribed……http://reneweconomy.com.au/nab-taps-offshore-green-bond-market-for-1-1gw-of-solar-wind-48807/
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