Geothermal energy firm issues £40m green bond

Baseload Capital will use the proceeds from the bond to invest in geothermal projects globally

A geothermal energy technology company has issued its first green bond worth SEK500 million (£40m).

Baseload Capital’s bond is said to be the first in Sweden to focus on low temperature geothermal heat power, according to Climeon, which owns a 15.7% stake in the company.

The proceeds from the bond will be used to invest in and develop geothermal projects in specific markets globally.

Alexander Helling, CEO of Baseload Capital said: “The response, interest in and support from investors for what we are doing has been extremely positive. It is clear that the investors who have chosen to participate in our bond want to play an active role in changing the energy landscape from brown to green.”

Other stakeholders in Baseload Capital include Blue, Gullspång Invest and LMK.

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