TenneT launches €1.8bn green bonds

Proceeds will be invested to support projects that will bring more offshore wind to the grid

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European grid operator TenneT has launched a green bond of €1.8 billion (£1.5bn).

Proceeds from the issue will be used to support green power transmission projects in the Netherlands and Germany, designed to connect offshore wind farms to the onshore electricity grid.

The bond, which is split into three tranches, has the support of six joint bookrunners, including BNP Paribas, Deutsche Bank and HSBC.

Investors from 20 European countries have placed orders of approximately €4 billion (£3.4bn), the company said.

By 2030, TenneT expects to have 28GW of connection capacity for offshore wind farms in the Dutch and German parts of the North Sea.

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