Energy giant E.ON raises €1.5bn of green bonds

They will fund sustainable infrastructure and energy efficiency projects

Big Zero Report 2022

Energy giant E.ON has announced it has raised two green bonds worth a total of €1.5 billion (£1.4bn).

The bond issuance of €750 million (£683m) each, maturing in August 2024 and February 2030 at rates of 0% and 0.35% respectively, will fund sustainable infrastructure and energy efficiency projects.

Green bonds fund projects that have positive environmental benefits and can include renewable energy, sustainable resource use, conservation, clean transportation and adaptation to climate change.

E.ON has developed a Green Bond Framework, which focuses on sustainable projects in both the energy networks and customer solutions businesses – they include renewable energy grid connections and sustainable city energy solutions, smart meters and charging points for electric vehicles (EVs).

CFO Marc Spieker said: “Sustainability runs like a thread through the business of the new E.ON, our investments and finances. Already today, an important part of our investments leads to greater energy efficiency and climate protection. We will significantly increase this share over the coming years. Green bonds help us financing these investments.

“With our green bonds, international investors can now participate in financing our projects that make peoples’ lives more sustainable. The low coupons of both bonds reduce E.ON’s average financing costs and thus support our business development.”

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