Acciona Energía: Making renewable energy economically viable on the long term
Acciona Energía, a Spanish renewable energy operator, successfully launched its first senior unsecured green bond last September with great demand from investors.
The €500 million six-year issue was oversubscribed more than five times and set at a 0,375% cupon, a very positive reception that confirms the company’s appeal to investors for its 100% independent renewable utility profile and its sustainability credentials.
The proceeds from the issuance will be used to finance or refinance electricity supply projects from wind power, solar photovoltaic, concentrated solar power and bioenergy. The transaction is structured under an advanced green financing framework that is fully aligned with the taxonomy of sustainable activities and the stringent requirements of the European Union’s green bond framework.
Our mission is to demonstrate the technical and economic viability of an energy system based on the use of renewable energies as the core element of a new sustainable economy,
Acciona Energía operates and finances its activities independently, following the IPO completed July 1st 2021 (Acciona, S.A. remains as the majority shareholder with 82,7%). With the success of this inaugural green bond, the company fulfills one of the main objectives of its IPO, which is, to ensure an optimal cost of financing to maximize the value generated by its growth plan.
The company plans to double its size in terms of total installed renewable capacity, from 10.7GW in 2020 to 20GW in 2025, with an investment of €7.8billion.
Societe Generale played a key role in this transaction by acting as Active Bookrunner.
The success of the transaction was highlighted by the high demand and competitive funding cost. We are proud to accompany Acciona Energía in this deal and to contribute to building a more sustainable energy system for the world,