Iberdrola issues €750m bond to finance Baltic Sea power project
Spanish utility Iberdrola has issued a €750m ($896m) green bond on the Euromarket to finance the 350 MW Wikinger wind farm in the German Baltic Sea as well as onshore wind farms in the UK. Demand for the bond topped €2.2bn in the initial phase. More than 150 companies, including several socially responsible investors, are expected to take part in the issue. The bond matures in September 2027 and bears a coupon of 1.25%.
Spanish energy group Iberdrola SA (BME:IBE) on Wednesday issued a EUR-750-million (USD 895.5m) green bond on the Euromarket to finance and refinance wind power project investments.

More specifically, the proceeds will go for investments in onshore wind farms in the UK and in the 350-MW Wikinger wind farm in the German Baltic Sea. The offshore wind park is under construction with more than half of the 70 Adwen turbines installed already.

Demand for the green bond surpassed EUR 2.2 billion in the initial phase, which allowed Iberdrola to boost its size by 50% from the initially planned EUR 500 million. More than 150 investors will be taking part in the issue, including a large share of Socially Responsible Investors (SRI).

The bond matures in September 2027 and bears a coupon of 1.25%.

The Spanish company has an installed power capacity of 48 GW, of which 28.3 GW is from renewable energy sources.

(EUR 1 = USD 1.19)

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