Netherlands-based transmission system operator TenneT Holding B.V. has launched and priced another Green Bond issue of EUR 1.25 billion, with proceeds set to be used for investing in offshore wind.
The Green Bond issue is split in two tranches of EUR 500 million and EUR 750 million with the support of five banks: ABN AMRO, Barclays, HSBC, NatWest Markets and SMBC Nikko.
"Proceeds will be used to invest in green projects in the Netherlands and Germany to connect large scale of offshore wind to the onshore electricity grid," said a press release.
Over the next ten years TenneT expects to invest EUR 35 billion in offshore and onshore grid connections across the Netherlands and Germany, driving the energy transition.
Approx. 80 percent of TenneT's investments are related to renewables, such as wind and solar energy.
In the period up to 2030, TenneT expects to have realized approximately 25 gigawatts (GW) of connection capacity for offshore wind farms in the Dutch and German parts of the North Sea, transmitting electricity sufficient to (every year) power 31 million households for a full year.